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| Sunday, 4 September 2005 |
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Business |  |
| News Business Features Editorial
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ASPI daily turnover breaks 2003 records The year 2004 saw a further improvement in the performance of 2003 breaking the records set in 2003 in the ASPI, daily turnover, number of trades for a day and market capitalisation. The ASPI which opened the year at 1,062.1 showed steady growth during the first two quarters of the year. The ASPI grew 27.9% to reach 1,358.5 end June 2004. This trend continued until the ASPI broke its previous high of 1,423.5 recorded in October 2003 to reach 1,4407 on July 23, 2004. This was due to the political stability created after the Provincial Councils held in mid July. The record was surpassed end July by a high of 1,454.4, a growth of 36.9% for the year to July 2004. The index reached an even higher point on August 3 but declined during the rest of the month. The ASPI recovered mid September and closed the third quarter of the year 6.8% higher than its opening figure. The final quarter of 2004 continued the upward trend and overtook the highest ASPI for the third time for the year on October 22. The ASPI recorded 1,560.9 surpassing the previous high by 85.4 points or 5.8%. In November the index dipped marginally during the first week but showed a recovery towards the end of the month. This trend continued until December till the index reached its highest point for the last time during the year. On December 22 the ASPI reached 1,508.7 bringing the growth to 48.8% for the year to date with the listing of LIOC Ltd. However, the index declined marginally during the final week of 2004 due to the tsunami disaster and closed the year at 1,506.9. The Milanka Price Index (MPI) did not follow the overall trend of the ASPI and reflected relative volatility in 2004. The MPI which opened the year at 1,897.8 gained during January 2004 but dipped gradually from February to mid May. Although some volatility was reflected in the MPI through May to June it began a steady growth from July to record a growth of 15.5% for the year to July 2004. The MPI declined through August to mid September after which it followed an upward trend until November. During the last two months of 2004 the index showed some volatility and closed the year at 2,073.7 points 9.3% or 175.9 points higher than the opening figure for 2004. The value of equity transactions for the year amounted to Rs 59.1 billion, a 20% decline compared to the turnover of 2003. Domestic investors accounted for 81.8% of the total equity turnover in 2004. Foreign investors were net buyers during the year with Rs 11.3 billion of
purchases and Rs 10.2 billion of sales. |
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