News Today: Colombo Stock Exchange becomes South Asia’s second-best performing stock market, driving investments and attracting global attention.

The Colombo Stock Exchange (CSE) has made headlines, becoming the second-best performing stock market in South Asia, according to Colombo Stock Exchange Branch Network Manager Nishantha Batagalla. This remarkable achievement has sparked significant interest among local and international investors, cementing its position as a key player in the region.

Batagalla shared that the Colombo stock market witnessed unprecedented growth, driven by high trading volumes and record turnovers. “The Colombo stock market has become the talking point of many investors in the last few weeks or months. This is mainly due to the high volume of trading, the turnovers, which has gone into unprecedented levels,” he stated.

The All Share Price Index of the Colombo Stock Exchange rose by an impressive 31.7% over the past year, while the S&P Sri Lanka 20 Index, representing 20 key companies, climbed by a staggering 41.7%.

The market’s performance was bolstered by favorable economic conditions, including ongoing discussions with the International Monetary Fund (IMF) and a low-interest-rate environment. These factors have significantly enhanced investor confidence and encouraged new participation in the market.

Highlighting the top-performing sectors, Batagalla noted that transportation led with a 59% increase, followed by software services at 57%, retailing at 56%, and banking with a 49% surge.

“With the market on the rise, we urge everyone to educate themselves on stock market investing,” he said, emphasizing the importance of knowledge in capitalizing on opportunities. He also highlighted the CSE’s online educational programs through its Academy to help new investors.

Former President Ranil Wickremesinghe has lauded President Anura Kumara Dissanayake for his leadership in finalizing the Economic and Technical Cooperation Agreement with India. The agreement aims to foster mutual growth and development, marking a significant milestone in bilateral relations.

“I commend President Anura Kumara Dissanayake for moving forward with the Economic and Technical Cooperation Agreement and the development of Trincomalee as a regional energy and industrial hub,” Wickremesinghe stated in a special address.

The former President emphasized the importance of the joint efforts, which were formally announced in a Joint Statement issued by Indian Prime Minister Narendra Modi and President Anura Kumara Dissanayake on December 16th, 2024, in New Delhi. This agreement focuses on key areas such as energy collaboration, industrial growth, and advancing economic ties between the two nations.

Trincomalee’s transformation into a regional energy and industrial hub is expected to bring significant investment opportunities, enhance technological exchanges, and create employment for Sri Lanka. Wickremesinghe highlighted that this agreement would also fortify the long-standing relationship between the two countries, paving the way for sustained economic prosperity.

The Joint Statement further underlined India’s commitment to supporting Sri Lanka’s development agenda, strengthening regional stability, and enhancing cooperation in energy, technology, and trade. The strategic move has been widely welcomed as a step forward in securing a prosperous future for Sri Lanka.