Record breaking run on CSE continues for sixth straight day

The record breaking run on the Colombo Stock Exchange (CSE) continued for the sixth straight day on Friday with the All Share Price Index closing at an all-time high if 13,280.94 points, up 111.54 from Thursday’s close on a turnover up to Rs. 11.6 billion, CSE figures revealed.

Kapruka Holding Ltd., now listed on the CSE, Friday opened trading being the first IPO (Initial Public Offering) to debut this year. The first E-Commerce company to be listed in Colombo, the shares on offer were snapped up by investors with the issue oversubscribed six times on opening day.

The share closed Friday at Rs. 22.30, up Rs. 6.90 from the IPO price trading at a range of Rs. 21- Rs.24.40 with 17.3 million shares transacted in 7,059 trades.

Speaking at Friday’s bell ringing ceremony at the CSE when trading in Kapruka commenced, CSE Chairman Dumith Fernando said the Exchange had sustained a cracking pace through 2021 with over Rs. 120 billion new equity raised over year with 13 listings, all of which were over-subscribed on opening day.

Brokers and analysts said that a large number of retail players, the majority of whom are less than 45-years old, have commenced trading on the CSE in recent months in the context of depressed interest rates confident that share trading could earn them the best returns.