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”From worst to best performing stock market within a year”

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The Sri Lanka stock market had the rare distinction of being the worst performing stock market and the best performing stock market within a year, said Chairman CSE, Dilshan Wijesekera.

He made this observation at the Invest Sri Lanka investors Forum in Chennai on Wednesday. Due to the economic recession in Sri Lanka, CSE reached a low ebb but within a very short period it bounced back to one of the forming stock markets in the world. “This volatility is also an opportunity.”

He said that India played a key role towards Sri Lanka’s economic recovery by providing a credit line of USD 2.5 billion and other assistance in need of the hour. “If we did not receive this from India on time, Sri Lanka may not have been in this praiseworthy position today.” He said that Sri Lanka’s stock market being in a small country may look small to the Indian market but this creates opportunities for Indian counterparts.

Director General Securities and Exchange Commission, Chinthaka Mendis said that SEC plays the similar successful role played by Securities Exchange Commission of India (SEBI). “Financial markets are little ahead of the economy in Sri Lanka. We have witnessed how markets are coming back strongly in the past.”

The government of Sri Lanka has been committed to an ambitious reform agenda and over the past few months we have been able to witness signs of stability and recovery and growth and CSC too had a role to play there.

“The capital market is committed to support the government in its reform agenda and to this end the SEC and CSE had played a major role.We have put the past behind and coming back strongly, tomorrow is likely to offer renowned growth opportunities and we are optimistic about Sri Lanka’s future.”

The securities market infrastructure plays an important role in boosting confidence and stability in the market and to this we have taken several measures to stop misconduct if any in the market.

“The SEC regularly conducts surveillance and supervision to identify any misconduct and eradicate them,” he added

The post ”From worst to best performing stock market within a year” appeared first on DailyNews.

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