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CSE continues record-breaking spree 

02 Sep 2021

  • ASPI hits yet another all-time high, turnover Rs. 12 b 
The Colombo Stock Exchange (CSE) has been repeatedly breaking its own records in a mere couple of days with its All Share Price Index (ASPI) surpassing the 9,000 mark to close at 9,335.98 yesterday (2).  Regardless of technical issues, which caused disruptions to trade in the first two days this week, the CSE has managed to retain its growth momentum, going strong since pre-lockdown.  The ASPI went up by 172.85 points yesterday from its previous close and the turnover for the day was over Rs. 12 billion. The volume of shares traded was Rs. 462.5 million, according to the CSE.  The previous day, ASPI closed on a positive note reaching an all-time high of 9,163.1 points as well. Shares that contributed to the previous day’s turnover of about Rs. 13 billion were Expolanka Holdings PLC, LOLC Holdings PLC, Browns Investments PLC, LOLC Development Finance PLC, Commercial Leasing and Finance PLC, Hayleys PLC, Vallibel One PLC, LOLC Finance, and Royal Ceramics Lanka PLC, according to CT CLSA Securities.  Meanwhile, John Keells Holdings PLC, EB Creasy & Co. PLC, Hemas Holdings PLC, Ceylon Cold Stores PLC, Distilleries Company of Sri Lanka PLC, Tokyo Cement Company (Lanka) PLC, Dialog Axiata PLC, and Asiri Hospital Holdings PLC were some of the companies that contributed to the all-time high in ASPI.  CT CLSA stated that the +35% 2021 year to date (YTD) gain enjoyed by the Colombo bourse has been led by counters benefitting from demand/supply conditions brought on by the pandemic.  Further, CT CLSA believes that the use of Modern Money Theory (MMT) in December 2020 and June 2021 fuelled the stock market, owing to extremely low-interest rates prior to 1 September 2021, along with the Sri Lanka rupee depreciation.  Meanwhile, counters with exposure to the domestic leisure industry, and counters which depend heavily on imported raw materials, have suffered since the onset of the pandemic, CT CLSA added.   

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