Sri Lanka's bourse made history yesterday when its Market Capitalization, which measures the market determined value of all listed voting shares, surpassed Rs. 3 trillion mark for the first time in its history.
At the close of trading today The Market Capitalization of the Colombo Stock Exchange (CSE) was Rs.3.0067 trillion.
This exceptional performance comes in the wake of a series of positive achievements for the CSE over the past few months with the ASPI crossing the 7000 mark in August and the S&P SL20, for the first time since its launch in 2012,crossing the 3500 mark in June this year.
During the course of 2014 there have been five Equity Initial Public Offerings (IPOs), one Equity Introduction and six Debt IPOs. The five equity IPOs raised a total of Rs. 2.7 billion, the highest since 2011.
The market is also performing positively in comparison to regional markets, being within the top six best performing markets in the region, with the ASPI showing a year to date growth of 21.1 percent and the S&P SL20 showing a year to date growth of 22.2 percent.
"The performance of the CSE over the past few months is a clear indication that confidence in the market, from both foreign and domestic investors, is growing. The CSE along with the Securities and Exchange Commission have ensured a competitive market which is strictly regulated and therefore attracts both savvy investors and high value companies," CSE Chairman Vajira Kulatilaka said.
"The Foreign Investor Forums conducted by the CSE and SEC in the past year in Singapore, London and most recently New York, have informed international investors of the value proposition in the Sri Lankan Capital Market and thereby attracted foreign funds which have contributed positively to the performance of the Market," CSE CEO Rajeeva Bandaranaike said.
The Colombo Stock Exchange operates the only share market in Sri Lanka.