CSE on an all-time-high record-breaking spree last week
BY Shenal Fernando The CSE closed out the month of September with another all-time high as the ASPI closed at 9,459.94 (on 30 September), up 39.7% Year To Date (YTD), bringing to an end what has been a historic nine months for the CSE. Moreover, the S&P SL20 closed at 3,534.82 on 30 September, up 34% YTD.The total turnover of the CSE observed during the first nine months of 2021 stands at Rs. 793.0 billion, which represents a 99.8% YoY increase compared to the equivalent period in 2020. Similarly, the number of shares traded over the period has increased by 85.7% YoY to 39,648,720,000 in comparison to the equivalent period in 2020. In addition, Market Capitalisation has increased 42.39% YTD, reaching Rs. 4,215.6 billion as of 30 September while turnover velocity has increased 33.4% YoY during the first nine months of 2021 when compared to the equivalent period in 2020, which represents a 2.5x growth. September was an eventful month for the CSE, as the market was on an all-time-high record-breaking spree, much to the delight of investors after the ASPI closed at an all-time high and above the 9,000 mark for the first time in its history on 31 August 2021. During the month of September itself, the ASPI went on to break its all-high record four more times. The all-time high record was broken for the first time last month on 2 September, where the ASPI went up by 172.85 points from its previous close, to close at 9,335.98, with the turnover for the day being over Rs. 12 billion. The volume of shares traded was Rs. 462.5 million.The CSE would go on to break its all-time high record three more times over three consecutive days from 28-30 September.On 28 September, the ASPI went up by 69.93 points, closing at 9,339.28 by the end of trading, with a turnover of $ 6.7 billion. Similarly, on 29 September, the ASPI went up a further 102.03 points to close at 9,434, however, with a turnover of Rs. 5.9 billion, less than the day before. And on 30 September the ASPI closed at 9,459.94, up 26.17 points from the previous day’s close. The turnover then was Rs. 6.9 billion, an improvement from Wednesday (29 September). The all-time high growth spree observed at the end of September was largely due to share price increases observed in Expolanka; the LOLC NBFIs on the back of the news regarding its internal restructuring involving LOLC Ceylon Holdings Ltd. (LOCH); JKH with the announcement of the company signing the deal with the Adani Group regarding the Colombo Port West Container Terminal (WCT); and tourism-related companies with the government announcing the relaxation of Covid-19-related restrictions on tourists.
