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2017 Market Highlights

Key developments in the market in 2017 can be summed up to the indices recording a turnaround during the year to end in positive territory, an improvement in trading activity, a substantial reversal of the capital outflow trend spurred by record-breaking foreign inflows and a record level of capital raised by listed companies through rights issues.

Both the ASPI and the S&P SL 20 indices have closed out 2017 in positive territory switching course from a declining trend in 2015/16. The daily average turnover in 2017 improving to Rs. 915 million from Rs. 737 million in 2016 also goes on to indicate that investors have responded positively, marking a 24% improvement in trading activity YoY.

The market has recorded an all-time high in foreign purchases during any given year with Rs. 112 billion in foreign purchases, breaking the previous record set in 2014. The development essentially indicates the strong trust foreign investors have placed in the Sri Lankan Stock Market throughout the year which is encouraging, and such record inflows have shaped Rs. 17.7 billion in net foreign buying for the year. This development is substantial when you consider the fact that the Sri Lankan stock market only saw marginal net foreign buying in 2016 and a considerable outflow of foreign funds in 2015.

2017 has also offered encouragement in the capital raising front, where a total of Rs 67 Bn was raised through debt and equity issues. The year saw a new all-time record for capital raised through rights issues with a total of Rs.45 billion raised. This continues to indicate the confidence placed by listed companies in the capital market when addressing additional capital requirements.

The ASPI continues to outperform major Global Indices and Regional Indices

Attractive valuation in the region