‘SL’s bullish stock market, reflective of investor confidence’

‘Sri Lanka’s bullish stock market is reflecting the overall high confidence and the positive sentiments among investors, Securities and Exchange Commission chairman Dr. Nalaka Godahewa said Thursday at the launching of the ‘Capital Market Conference 2014’ at Cinnamon Lakeside.

The conference was organised by the Securities and Exchange Commission and the Colombo Stock Exchange.

He added: ‘The capital market conference 2014, is quite timely, coinciding with a bullish market, reflecting the overall high confidence and the positive sentiments amongst the investors.

‘As we all know, the stock markets are considered the barometers of economic development. Usually when an economy performs well, the stock market flourishes. When an economy struggles, the stock market becomes bearish. So our key policy makers who are present with us today, should be happy to see the exceptional performance of the Colombo Stock Market, which is symbolic of the post conflict economic progress of the country.

‘Since mid 2009, over the last 5 years, the all share price index of Colombo Stock market has grown more than 300 percent from 1,800 to 7,400 levels. The market capitalization has appreciated by over 350 percent during the same period.

‘The average daily turnover of the CSE which was Rs.464 million in 2009 has increased to Rs.1.2 billion by 2014. The Net Asset Value of Unit Trusts have gone up from Rs.6.7 billion to Rs.75.7 billion. Market capitalization to GDP ratio, has reached 35%.

‘During the last few years, we have taken a number of strategic initiatives, to develop our capital market inline with the Governments vision of making Sri Lanka a commercial hub for the region. We have already completed most of these tasks and the results you see today, are reflective of our efforts. But naturally our goals are long term and the journey will continue. You will hear more about our plans during this capital market conference 2014.

‘Today’s event is attended by the leaders of our business community and a large cross section of local and foreign stakeholders. We have many invitees here representing various public and private sector institutes.

‘Some of our participants have come from very far. We have representatives here today, from a number of countries including- USA, UK, Germany, Hong Kong, Singapore, Japan, Switzerland, Netherlands, Thailand, Malaysia, India, Pakistan, Saudi Arabia, Bahrain and Dubai Whilst thanking each and everyone of you, for your keen interest, we trust that you will find the conference productive and useful

www.island.lk

stocks hunter wrote:

‘Some of our participants have come from very far. We have representatives here today, from a number of countries including- USA, UK, Germany, Hong Kong, Singapore, Japan, Switzerland, Netherlands, Thailand, Malaysia, India, Pakistan, Saudi Arabia, Bahrain and Dubai Whilst thanking each and everyone of you, for your keen interest, we trust that you will find the conference productive and useful

www.island.lk

Thanks SHs for sharing.
No wonder Money rich people who lives in countries where economic growth rate around 1% to 2% having a close look at economies with a growth rate of 6% to 8%.