NFOs Pass Rs 50Bn for 2nd time in CSE’s 125 Year History

By Paneetha Ameresekere | Published: 2:00 AM Dec 1 2021
News NFOs Pass Rs 50Bn for 2nd time in CSE’s 125 Year History

By Paneetha Ameresekere 

Net foreign outflows (NFOs) from the Colombo Stock Exchange (CSE) passed Rs 50 billion for a calendar year in only the second time in its 125 year old history, when it suffered a Rs 414.26 million (USD 2.05 million) NFO at yesterday’s (30 November) trading due to persistent uncertainty. Consequently, NFOs in the calendar year to yesterday increased to Rs 50.22 billion yesterday.

 The only other time that NFOs passed Rs 50 billion was last year, where it registered a record high NFO figure of Rs 51.04 billion due to similar uncertainty. Further, yesterday was the 13th consecutive market day that the stock market has suffered NFOs, which is the third highest number of days that the stock market has suffered NFOs in the calendar year to date. 

Also, yesterday was the 188th market day the stock market has suffered NFOs, equalling the record highest number of NFOs that the stock market has suffered in its 125 year history which was last year. In the 217 market days that have transpired in the calendar year to yesterday, the stock market has suffered NFOs in 86.64 per cent of those days, which is also the second highest ever NFOs the stock market has suffered in a calendar year, with the highest being last year where it suffered NFOs in 90.82 per cent of the market days (207) that transpired that year. Yesterday’s NFOs which are equivalent to USD 2.05 million will be met from the country’s Spartan foreign reserves at the administered, albeit discounted ‘spot’ price which was Rs 202.05 to the U.S. dollar yesterday.

By Paneetha Ameresekere | Published: 2:00 AM Dec 1 2021

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