News & market updates

Colombo bourse slipped with the S&P SL20 down 0.83% and ASPI down 0.35% on turnover of Rs.1.03bn as political uncertainty and net foreign selling weighed on sentiment. Banking and blue-chip counters (notably Sampath, Commercial Bank, John Keells and Melstacorp) were main drags while Teejay Lanka and Hayleys saw notable activity.

Colombo market slipped for a seventh straight session as ASPI fell below 11,000 to close at 10,946 (-1.33%) and S&P SL20 lost 1.68%, with turnover Rs. 732.49mn. Commercial Bank, Sampath Bank, Melstacorp, Ceylon Tobacco, Browns Investments and John Keells were among the top negative contributors.

All Share Index fell 1.33% to 10,945, dropping below 11,000, while the S&P SL20 declined 1.68% to 3,096 on turnover of 732 million. Top turnover stocks included Ceylon Tobacco, Melstacorp, Browns Investments, Commercial Bank and John Keells, with a net foreign inflow of 49.9 million.

Colombo Stock Exchange closed down: ASPI fell 0.95% to 11,093 and S&P SL20 fell 1.26% to 3,148, with turnover at 513 million and net foreign inflow of 41.9 million. Top turnover generators included John Keells, Ceylon Cold Stores, Commercial Bank and Nations Trust; SMB Finance and Browns Investments were among gainers while several banks, Ceylon Cold Stores, L B Finance and Sigiriya were down.

ASPI fell 162.1 points (-1.43%) to 11,200 and the S&P SL20 dropped 2.0%, led by declines in banks and frontline counters including HNB, COMB, LOLC, JKH and SAMP; turnover was Rs. 554.3m and foreigners were net buyers of about Rs. 49m.

Colombo market opened lower with the ASPI closing at 11,495, down 9 points, on turnover of Rs.580.5m; capital goods led turnover (38%) while banking and blue-chip counters put pressure on the index.

The Colombo bourse's five-day winning streak ended with a 0.2% drop on Friday, but the week closed with the S&P SL20 up 2.4% and the ASPI up 1.8% and average daily turnover of Rs. 740m. Top negative contributors were C T Holdings, John Keells, DFCC, Central Finance and Lanka IOC, while Access Engineering, Renuka and Melstacorp gained.

Colombo Bourse rose for a fifth straight session as the ASPI gained 1% to close at 11,531 (S&P SL20 +1.3%), with banking and food & beverage stocks led by HNB, SAMP, DFCC, MELS and LMF driving the rally amid Rs.776m turnover.

Colombo Marina Development, linked to Browns Investments Plc (BIL.N0000), was designated a primary venture with strategic development status by the Cabinet and leased four Colombo Port City plots to build a marina with capacity for 243 vessels. The project will receive incentives and include clubs, retail, recreation and parking to boost marine tourism.

Colombo market improved as the ASPI rose 35 pts to 11,347 and turnover jumped to Rs.648.6m (up 92%), led by Capital Goods; key contributors included JKH, CTC, RCL and others, while there was a net foreign outflow of Rs.23m.

Browns Investments' Colombo Marina Development has been designated a business of primary strategic importance by the cabinet and will be eligible for applicable incentives. The fully owned venture has leased blocks in Colombo Port City and will include a marina for 243 yachts plus retail, restaurant and banquet facilities.

Colombo market edged up as S&P SL20 rose 0.3% and ASPI closed at 11,312, with turnover just Rs. 337.4m (down 60.3% vs the month’s average). Commercial Bank, Melstacorp, NDB and Tokyo Cement were top contributors amid mixed activity across banking, capital goods and tourism stocks.

Colombo market closed up Friday with the ASPI +0.44% to 11,303 on turnover of Rs. 403.3m, though the week ended with losses (ASPI -1.2%, S&P SL20 -2.0%). Top contributors included Sampath, Richard Pieris, Aitken Spence, LOLC, Access Engineering and John Keells, while Commercial Bank edged down slightly.

ASPI fell 41 points to 12,254 as the Colombo market remained lacklustre with weak turnover and banking-led declines. Sampath Bank saw buying interest and rose to Rs.74.50, John Keells gained modestly, while Central Finance and Hayleys Fabric recorded price falls.

CSE turnover fell to Rs. 320 million — the lowest since May 2020 — as indices closed flat and investors remained cautious amid political uncertainty. Ceylinco (CINS) was the main positive contributor while Central Finance, John Keells, CIC, NDB and Browns featured among top turnover names.

The ASPI rose 42 points (0.4%) to 11,294 as the Colombo market closed marginally higher on turnover of Rs. 582 million. Gains in John Keells, Richard Pieris, HNB, BIL and others supported the rise, turnover was led by JKH and capital goods, banking and F&B sectors, while foreigners net sold Rs. 20.6m.

ASPI closed at 11,252, down 1.67% (191 points) and the S&P SL20 fell 2.3% as turnover hit Rs. 863.8m. Banking stocks and conglomerates led losses, with COMB under selling pressure ahead of rights renunciation and declines noted in HNB, SAMP, MELS and SUN.

Browns Investments PLC completed on 30 July the acquisition of Lipton tea businesses in Kenya and Rwanda via its subsidiary B Commodities ME FZE, taking 98.94% of Lipton Teas & Infusions Kenya, 51.99% of Limuru Tea and 100% of Lipton Rwanda; Tanzania pending approval.

Browns Investments (BIL.N0000) completed the acquisition of Lipton tea companies in Kenya and Rwanda through its wholly owned subsidiary B Commodities ME FZE. The planned purchase of the Tanzania Lipton unit is still pending approval from the Fair Competition Commission of Tanzania.