ASPI crosses 6000 point mark
The All Share Price Index (ASPI) of the Colombo Stock Echange (CSE)
crossed the 6000 point mark on Thursday for the first time in the
history of the Stock Exchange.
A stock broker of Asia Securities (Pvt) Ltd. said the price band
imposed by the Securities and Exchange Commission (SEC) to streamline
the market contributed to the achievement.
“The CSE is performing remarkably well and this trend will continue
due to the favourable business environment in the country. Companies
have revived businesses and their profits are up helping share prices to
increase”, he said.
The CSE has been recording many feats following the completion of the
war and the Colombo Stock Exchange has been rated as one of the best
performing markets in the world.
CSE sources said more companies are keen to list in the stock
exchange which would boost the growth of the CSE. Currently around 230
companies trade on the Stock Exchange.
Rakshitha Perera of Bartleet Mallory Stock Brokers Ltd. said positive
sentiments are back at the CSE and the overall directions are good for
the market. “Positive macro-economic factors contribute to the increase
in trading. Over the last few days institutional and high network
participation was visible in the market”, he said.
Stock brokers said retail buying across the board contributed to the
positive trend in the market.
The SEC has issued license to Indian Infoline, a stock brokering
company increasing the number of CSE’s stock brokering firms to 22.
According to the SEC sources approval is pending to three more firms.