The Colombo Stock Market has recorded a noteworthy turnaround in recent months, driven by a progress of the indices and improved investor interest.
Since reopening the market on 11 May 2020 following an extended closure as a result of the COVID-19 pandemic, the benchmark All Share Price Index (ASPI) has recorded an 18.97% gain since reopen, and as of 11th September stands at 5,438.91. The S&P SL20 index, which features the CSE’s 20 largest and most liquid stocks has also gained, making a 21.15% gain since the market reopen, closing at 2,359.24 points as of 11th September.
The ASPI and the S&P SL20 Index have made consistent gains tracking back points losses with the indices now at higher levels than before the 11th of March 2020, the day COVID-19 was declared as a pandemic by the World Health Organization.
The overall value of the stock market, which is represented by the Market capitalization, has also improved adding Rs. 235.5 Billion since 11th May.
The year-to-date daily average turnover, which is an indication of investor participation in the market, currently stands at Rs. 1.35 Billion – the highest figure recorded since 2014. Overall market activity in terms of the average number of trades carried out during a trading day has also increased significantly by 73% when compared to the average figure recorded in 2019 and 133% higher than 2018.
