ASPI crosses 9,000-point mark in intra-day trading; market turnover tops Rs.16bn

The Colombo Stock Exchange’s (CSE) benchmark All Share Price Index (ASPI) yesterday crossed the 9,000-point mark during the intra-day trading for the first time in history, though the index closed below the 9,000-point mark.

However, the ASPI yesterday set a new record high closing at 8,931.33, up from 10.62 points or 0.12 percent from Thursday’s all-time high.

The market turnover was whopping Rs.16.4 billion, significantly up from this year’s average daily turnover of Rs.3.9 billion.

This was the CSE’s best week in seven months, as the ASPI alone rose over 451 points or 8.4 percent during the week.

Sri Lankan shares, which have gained 31.84 percent so far this year, have been the best performers in Asia, according to Refinitiv Eikon data, Reuters reported.

Conglomerate Browns Investments PLC was the top boost to the index on Friday, gaining 24.7 percent.
However, Sri Lanka’s overall economy is worlds apart from the country’s equity market’s performance. S&P yesterday downgraded Sri Lanka’s rating outlook to negative, on falling foreign reserves heightened default risks, while affirming the ‘CCC+/C’ rating. 

The COVID-19 situation in the country also appears to be escalating with higher infections and deaths being reported. The government yesterday extended the lockdowns currently in place to 
September 6.