• Colombo bourse continued on growth path with the positive news on external debt restructuring

The Colombo Stock Exchange (CSE) has become the fourth best performing stock exchange in Asia just behind  China, Taiwan and Pakistan so far during this year.

“Out of the selected indices of Asian countries, Sri Lanka performed positively hitting the 4th spot of highest index gain YTD as of 24th October 2024,” Softlogic Stockbrokers stated.

The CSE emphasised that this milestone reflects the strength and growth potential of Sri Lanka’s financial market in the global arena.

Colombo bourse continued on growth path with the positive news on external debt restructuring front over the past number of weeks, as the country moved closer to the expected sovereign credit upgrade.  This growth trajectory remains on course even after the Presidential Election with the new government pledging to prioritis stability.

Last Friday, the main index ASPI reached the 12,500 milestone and the market turnover reached Rs.4.88 billion. 

The ASPI last week closed  at 12,518 , up by 44 points  and it was up by 1.7 percent during the course of the week. The more liquid S&P SL20 Index was up by 1.05 percent or 39 points to reach 3759.30 points last Friday.

According to First Capital Research (FCR), ASPI could reach a fair value of 13,000-14,000 by end of this year. (NF)