Net foreign inflow to stock market tops Rs. 4 b mark

Monday, 29 January 2018 00:00 - - {{hitsCtrl.values.hits}}

Net foreign inflow to the Colombo Stock Exchange (CSE) has crossed the Rs. 4 billion mark in the first 18 market days.

According to the Securities and Exchange Commission, from 2 January-26 January, foreign purchases in the secondary market amounted to Rs. 10.52 billion and sales were Rs. 6.5 billion, resulting in a net inflow of Rs. 4.02 billion.

The net inflows so far in the new year are on the back of the Rs. 17.65 billion figure in 2017 in the secondary market and a record total of Rs. 40.1 billion when inflow of Rs. 22.46 billion is factored in the primary market. The previous highest total net foreign inflow was Rs. 21.7 billion in 2014.

Market analysts welcomed the continuing bullish sentiments on listed equities among foreign investors. They said the Colombo Bourse remains attractive since the Price Earnings Ratio was only 10.66 times. Year to date, the All Share Index has gained 1.36% whilst that of the S&P SL 20 index was at 2.13%.