Sri Lanka stocks among top performing markets in 2014

EconomyNext – Colombo’s stock market saw a record 106 billion rupees of foreign buying in 2014 and was one of the top six best performing markets internationally, the Colombo Stock Exchange said in a statement.

Stockbrokers Lanka Securities said net foreign inflows into the CSE were 22.1 billion rupees in 2014.

The CSE was within the top five best performing markets in the region, with the benchmark All Share Price Index (ASPI) rising 23.4 percent to close the year on 7, 298.95.

In 2014 the S&P SL20 index, which tracks the top 20 largest and most liquid stocks on the CSE, crossed the 4000 mark for the first time since its launch and market capitalization reached  three trillion rupees closing the year on 3, 104.9 million rupees.

The CSE statement said daily average turnover increased by 71 percent over the previous year from 828 million rupees in 2013 to 1.415 billion rupees in 2014.

The CSE said the primary market remained active during 2014 with over 77. 7 billion rupees being raised through equity and debt IPOs, rights issues, and private placements.

During the course of 2014 there were five Equity IPOs, one Equity Introduction and 20 Debt IPOs. The five equity IPOs raised a total of 2,693.8 million rupees, the highest since 2011.

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