“Stock market surge is quite significant,” says Ray

“It was speculated that a decisive end to the war would bring about a surge in the stock market. Whilst most markets throughout the world were taking a beating due to the global economic crisis, our exchange had hopes of there being a resurgence – and this is exactly how it turned out! The indices gained over 290 (ASPI) and nearly 450 (MPI) points in the first six days of trading after the end of hostilities,” says the Group CEO of Acuity Partners and Deputy Chairman of Acuity Stockbrokers Ray Abeywardena, in the August issue of leading business magazine LMD.

Commenting on the significance of this surge in the stock market, he affirms that this was “quite significant” since it was not only the indices that went up, but also turnover. “Turnover, which was lagging at around Rs. 100 to 200 million a day, shot up to Rs. 1.5 billion a day in the week that followed,” he notes.

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