Financial Times

Investments from Kandy increasing, CSE says
Investors from Kandy are increasing investments in companies listed on the Colombo Stock Exchange with turnover from the Kandy branch of the CSE doubling last year compared with the year before. So far for the year, the Kandy branch has averaged Rs 30.5 million turnover for a day.

The branch, which marked its second anniversary on Saturday, was opened as part of the CSE's strategy to broad base the stock market, a CSE statement said. "This branch has shown noteworthy progress since its inception in June 2003."

The public gallery of the Kandy Branch has been popular among the investing public with the number of daily visitors now being 100-150 compared with only 15 - 20 investors when the branch office opened. Currently, seven member firms of the CSE offer stock broker services at the CSE Kandy branch.

The average monthly contribution to the CSE's total market turnover from the Kandy branch increased to eight percent in 2004 from three percent in 2003. The Daily Average Turnover of the branch has also increased to Rs. 19.1 million in 2004 from Rs. 13.5 million in 2003.

The branch has organized many awareness programmes in order to educate the students of schools and other higher educational institutions and also the investor community in the Central Province and as well as in other outstation areas.

Under the category of focused groups, professionals such as lawyers, doctors and academics, social club members and members of regional and district chambers, services personnel and law-makers at provincial level have been educated by the branch.

The branch has also organized a series of educational programmes for existing investors on selected topics with the objective of enhancing their knowledge. The CSE said the Kandy branch plans to increase the level of awareness and educational activities and access to market information among the investment seeking public in the Central Region in the future.

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