No complaints for CSE in 2021
View(s):Among the many highs the Colombo Stock Exchange (CSE) saw over the last year, this one tops the list: The CSE has not received any investor complaints during the past year. How’s that for positive news?
“We didn’t get any complaints at all during 2021,” a CSE official told the Business Times recently. He attributed this to a large number of investors ‘being happy ‘.
It is also a record in CSE’s history unlike in the dark 2011 to 2014 era rampant with insider trading and general market manipulation while taking gullible traders on a right royal ride.
“In fact, we haven’t got any complaints so far this year as well. Everybody in the market is making money. This may be why there are no complaints,” he said.
Market analysts point out that there are next to none investment opportunities for people at the moment (outside the CSE) due to the currency crisis and the dire economic situation. Therefore, there is so much liquidity in the stock market, an analyst said. This is also why the stock market is reaching new highs every day, he added. Social media particularly Twitterverse has immensely helped the stock market to reach new highs, a second analyst added. While it is a dangerous trend and can be tantamount to market manipulation it has helped new investors to get a footing in the CSE, he said. The main index saw some impulsive highs and lows over the years but this will cease on Monday.
Analysts say that from tomorrow the All Share Price Index will see less volatility with the introduction of free-float adjusted market capitalisation, eliminating the distortion effect of illiquid shares. This calculation method will produce more accurate returns and the index methodology would be on par with accepted best practices of index calculations in the world.
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