Sri Lanka stocks get Rs14.3 bln foreign inflow, ASPI +4.9 pct in 2017

Apr 24, 2017 (LBO) - The Colombo Stock Exchange (CSE) in recent weeks has seen interest among foreign institutional investors, with the ASPI rallying 4.9 percent so far this year on foreign inflows of 14.3 billion rupees. The Benchmark ASPI recorded consistent gains in April crossing the 6,500 mark on Thursday. The S&P SL 20 index, which features the CSE’s 20 largest and most liquid stocks has also improved, posting a 6.85 percent rally in 2017. Consistent foreign inflows have been a standout feature for 21 consecutive trading days as of Friday. Net foreign inflows were 14.3 billion rupees, a major improvement compared to previous years, which recorded an inflow of 383.5 million rupees in 2016 and an outflow of 5.3 billion rupees in 2015. Foreign investor contribution to total turnover in 2017 stands at 51.4 percent, another improvement in comparison with 42.0 percent in 2016 and 34.4 percent in 2015. This marks the first occasion where foreign investor contribution to yearly turnover has exceeded the 50% mark since the year 2008. Overall trading activity has also improved in 2017, with the Daily Average Turnover recorded for trading in 2017 at 877.8 million rupees, up from 737.2 million in 2016. The total turnover for the week that ended on 21st April 2017 was over 11 billion rupees.