CSE ASPI best-performing index globally in September

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ASPI gained 12% in Sept. by Rs. 279.6 b
S&P SL20 index gained 4.39% last month
Average number of trades per day rises to 20,607

The benchmark All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) recorded significant gains outperforming all other main indexes around the globe during the month of September, the organisation said in a statement yesterday.

The ASPI gained 12% in September and in value terms by Rs. 279.6 billion. The S&P SL20 index, which features the CSE’s 20 largest and most liquid stocks has also gained in September by 4.39%, closing at 2,463.27 points as of 30 September.

The average number of trades carried out in a trading day during the month of September was 20,607 which is 96% higher than the Year-to-Date average number of trades done per day, indicating a significant improvement in trading activity and investor engagement during September.

In terms of market turnover, a Rs. 50 billion consolidated turnover was recorded during the month of September.

Commenting on the performance the CSE Chairman Dumith Fernando said, “We are extremely happy that the local stock market has continued its upward trajectory since re-opening on 11 May and outperforming global giants. The continued low interest rate environment has led to more financial assets being moved from low-yielding fixed income assets into the share market and we expect that to continue into the coming months.

“We have also witnessed much stronger confidence levels in the earnings growth of listed corporates as a result of the post-COVID bounce back and lower financing costs. Companies are being rewarded by investors who continue to expect strong earnings in coming quarters.” Fernando continued.