The Colombo Stock Market (CSE) has become the Asia’s best Stock Market in 2010 with a surge of 96 percent while Indonesia that rose a 46.1 per cent becoming a distant second, the Economic Times reported.
The CSE’s main share index rose 21.74 points to 6,635.87. It has fallen 7.9 per cent since it hit an all-time high of 7,207.75 on Oct. 4 on year-end settlements, profit taking, and liquidity shortage.
“We will not see a similar surge next year, but we will see high activities with over 60 firms in line for listing,” said Danushka Samarasinghe, director at TKS Securities . “We 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. Friday's turnover was 1.3 billion rupees ($11.8 million).
Sri Lanka’s rupee ended flat at 110.94/96 a dollar in sluggish trade, currency dealers said. It has risen 3.06 per cent so far this year.
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