ASPI, S&P SL 20 index close year in positive territory

Indices recorded a turnaround during the year to end in positive territory. The ASPI gained 2.26% while the S&P SL 20 gained 5.01%.

The Colombo bourse enters 2018 at the back of a turnaround year in 2017, where the country experienced improvements in many fronts with relation to the performance of the market.

Both the All Share Price Index and the S&P SL 20 index closed the year in positive territory after a lapse of two years and saw an improvement in trading activity. 2017 also brought about a record breaking year for foreign investment and for capital raising through rights issues.

While the market is encouraged by this performance, the CSE together with its stakeholders will continue with initiatives to develop the market in key areas of strategic importance, including in market development, product diversification, governance, and market infrastructure and risk management, said Rajeeva Bandaranaike CEO of Colombo Stock Exchange.

The extensive awareness drive, which saw capital market promotions in key foreign markets and in key towns around the country which was conducted in association with the SEC in 2017 will continue this year as well.

The Stock Exchange will also see a number of new listings in the coming year, some of which would be through new avenues.

“We aspire to open the local market for foreign listings this year, at a time when business operations and capital flows are becoming increasingly globalized, and as Sri Lanka aspires to develop into a new center of economic strength and innovation. More emerging and growing businesses, especially across Asia today are considering the pros and cons of accessing public capital in a foreign market and are looking beyond their mature domestic markets.”

“This we believe, presents the CSE with an opportunity to attract such businesses to list in Sri Lanka.

We will also introduce a dedicated listing platform for our local SMEs - the core of the Sri Lankan economy. SMEs will therefore commencing this year, have the opportunity to raise capital and benefit from the Sri Lankan stock market and investors will have the opportunity to participate in this exciting and dynamic sector of the economy. “e expect to make other key development related and stakeholder focused announcements as the year progresses.”