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Sri Lankan stock market hits record high amidst rising COVID-19 infections


Sri Lankan stock market hits record high amidst rising COVID-19 infections
Over the past four weeks, Sri Lanka’s wealthy have become 739 billion rupees ($US3.8 billion) richer through a 25 percent rise in the Colombo Stock Exchange (CSE).
Last week alone, major players in the CSE amassed 318 billion rupees, an increase that dwarfs the 109 billion rupee rise for the whole of 2019.
Gotabaya Rajapaksa (AP Photo/Eranga Jayawardena)
The spike in Sri Lanka’s small share market occurs amidst an exponential growth of COVD-19 infections. As of yesterday, confirmed cases have increased 20-fold since October, to more than 60,000, and deaths by 26 times, to almost 300. The CSE rise has been accompanied by growing poverty, rising unemployment, wage cuts and a higher cost of living. ....

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Colombo Stock Market gains to near three-and-half-year high


Thursday, 31 December 2020 01:23
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YTD net foreign outflow tops Rs. 51 b
The Colombo Stock Market yesterday remained resilient reaching a near three-and-half-year high with above average turnover. 
The All Share Price Index increased by 43.1 points to close at 6,748.0 (+0.6%), whilst the more liquid S&P SL20 Index also gained 16.7 points to close at 2,631.5 (+0.6%).
The total turnover was Rs. 3.75 billion versus the 12-month average daily turnover of Rs. 1.87 billion, according to Softlogic Stockbrokers.
First Capital said the Bourse witnessed a near three-and-half-year high while recording a Rs. 3 billion plus turnover, sustaining the drive in the positive direction for the third consecutive session. 
“Index spiked within the first few minutes of trading, thereafter, experienced a downward movement till mid-day. Subsequently, market bounced back and closed at 6,748, gaining 43 points,” First Capital said. It said the Capital Goo ....

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