The Colombo Stock Market CSE has become the Asia’s best Stock Market in 2010 with a surge of 96 percent. Indonesia that rose a 46.1 per cent became a distant second.
The Economic Times reported that the CSE’s main share index rose 21.74 points to 6,635.87. Danushka Samarasinghe, Director at TKS Securities said they would not see a similar surge next year, but would witness high activities with over 60 firms in line for listing. They expect 60 per cent rise with better earnings in 2011.
The year saw a net foreign outflow of 26.4 billion rupees from the Bourse, more than twice of last year’s net selling of 11.4 billion rupees. On Friday, offshore investors sold a net 15.9 million rupees. The daily average turnover for 2010 was at a record 2.4 billion rupees, more than four times higher than the previous all-time high of last year’s 593.6 million rupees.