Bourse welcomes 2022 with a bang

• ASPI records highest daily gain in history
• Daily turnover tops Rs.9.6bn
• Foreigners end up as net buyers

The stock market commenced trading in 2022 with a bang, as the benchmark index recorded its highest single-day gain while the daily turnover topped Rs.9.5 billion. 

The All Share Price Index (ASPI) gained 399.81 or 3.27 percent, recording the highest single-day gain for the index in the Colombo Stock Exchange’s (CSE) history, to close at 12,625.82. The more liquid S&P SL20 index gained 114.99 index points or 2.72 percent to close at 4,348.24.

According to brokers, LOLC Finance and LOLC Holdings were the biggest boosts to the index.

In 2021, the ASPI gained 5,451.79 points or 8 percent while S&P SL 20 gained 1,595.15 index points or 
60 percent. 

Meanwhile, yesterday’s market turnover topped Rs.9.6 billion. The daily average turnover of 2021 was Rs.4.9 billion. 

The market capitalisation as of yesterday was Rs.5.6 trillion, whereas the market capitalisation on the last trading day of 2021 was Rs.5.5 trillion. 

Almost 774 million shares changed hands yesterday, though down from 858 million shares in the previous session, with total trades topping 74,000.

In another positive development, foreigners became the net buyers yesterday, as the net foreign inflow for the day was Rs.12.9 billion. In 2021, foreigners net sold Rs.52.6 billion worth of shares. 

The outlook for Sri Lanka’s broader economy however remains bleak, with the dwindled reserves position, massive external debt, commodities shortages and soaring consumer prices.