‘Positive development for country’:
CSE named world’s best Stock Exchange
The Colombo Stock Exchange (CSE) was yesterday named as the best
performing stock exchange in the world for the year 2009. Bloomberg
Newswire statistics, made this accolade from among 89 selected bodies in
The main price index of the Colombo Stock Exchange (CSE) recorded
exceptional gains during the first month of trading in 2009. The All
Share Price Index (ASPI) recorded a growth of 16.3% for the year to
date, making the Colombo Stock Market Index the best performing index
globally, in US Dollar terms.
The Milanka Price Index (MPI) too recorded a year-to-date growth of
According to Bloomberg, the ASPI has grown by 14.1% for the year to
date (in USD) and was placed at the top of 89 Indices tracked by them.
A financial analyst said that that this would have a major positive
impact on foreign direct investments to the country as the growth of the
index was measured in US dollars.
The top three best performing indices in the world as per Bloomberg,
records that growth Year to date (USD) at the Colombo All Share Price
Index was 14.1% as against the Shanghai Composite Index of 8.9%.
The Chile Stock Market Select Index, which was placed third stood at
The CSE also recorded the first listing for the year 2009 yesterday
with the Second Board listing of Capital Reach Leasing Ltd. The company
listed 20 million ordinary shares on the CSE through an Initial Public
Offering (IPO). The shares traded within a price range of Rs. 18 and Rs.
36 during the first three hours of trading yesterday.
Managing Director, Bartleet Mallory Stock Brokers, R. Muralitharan
said that this was a very positive development for the country. “We
anticipate that this trend would continue in the future too,” he said.
“Inflation is on the decline and it would lead to lowering of
interest rates as well and investors can now look at the equity market,”
A broker from J. B. Stock Brokers said that they hope this positive
sentiment would continue. “This while stimulating more foreign direct
investments to the country would also encourage more local entrepreneurs
to invest in the CSE, “he said.