Shareholders made richer by Rs 140B

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The stock market basking on the success of Saturday’s (9 July) ‘Aragalaya’ continued to gain for the second successive market day to yesterday (12), with the benchmark ASPI increasing by 4.02 per cent (284.98 points) to 7,365.15 points and the more sensitive S&P SL 20 Index by 5.36 per cent (120.39 points) to 2,365.22 points in the review two-day period.

Further, shareholder wealth in the two market days to yesterday increased by Rs 140.03 billion (up 4.55 per cent). Yesterday was also the third consecutive market day that the Bourse made gains. Meanwhile, turnover made yesterday was Rs 1.10 billion, the first time after a lapse of eight calendar days that the stock market has made a turnover of at least Rs 1 billion or over. Prior to yesterday, the last time the stock market made a turnover of at least Rs 1 billion or over was on 4 July with a figure of Rs 1.11 billion. The number of shares traded yesterday was 56.86 million.

The stock market suffered a nominal net foreign outflow (NFO) of 14.79 million at yesterday’s trading and in the calendar year to date it has suffered NFOs totalling Rs 1.11 billion. In the 116 market days that have transpired in the calendar year to date, the Bourse has enjoyed net foreign inflows in 64 (55.17 per cent) of those days. Trading hours these days have been restricted due to daily power cuts, as the Government doesn’t have sufficient finance to provide electricity round the clock.

By Paneetha Ameresekere