News & market updates

ASPI rose 81.89 points to a record 17,434.94, extending its rally to a 12th straight session led by John Keells, Sampath Bank, Hatton National Bank, Lion Brewery and Dipped Products. Market turnover was Rs.5.59bn and the S&P SL20 gained 34.13 pts to 5,193.79.

Colombo Stock Exchange rebounded in May with the ASPI up 6.68% and the S&P SL20 up 7.28%, the best monthly gains since October 2024; average daily turnover rose to Rs.4.2bn and net foreign inflow was Rs.136mn. The month included a major Rs.14bn deal where Ceylon Steel bought a 9.9% stake in HNB from Browns Investments.

Nandana Lokuwithana (Onyx) bought a c.9.99% voting stake in Hatton National Bank through Ceylon Steel for about Rs.14.42 billion (Rs.305–313/sh), lifting HNB shares to close at Rs.319.50 (+Rs.17.25). The block was sold by Browns Investments, which retains non-voting shares.

Hatton National Bank saw a 9.99% stake divestment (45.9m shares) by Browns Investments via nine off‑board trades at Rs.305, driving turnover to Rs.18.7bn and lifting the ASPI ~1%. Banking counters led gains and accounted for 81% of turnover, with broad buying across banks and select FMCG names.

Hatton National Bank (HNB) saw 45,317,177 shares transferred at Rs.305 each to Ceylon Steel, generating Rs.13.82bn (Rs.14.42bn total HNB turnover) and helping lift CSE turnover to Rs.18.7bn; HNB closed at Rs.319.50, up 5.71%.

Ceylon Steel bought a 9.99% stake in Hatton National Bank (45,317,177 shares) from Browns Investments at Rs.305 per share, a Rs.13.82bn transaction. Capital Alliance Securities acted as broker for the buyer/seller and the deal pushed market turnover past Rs.17bn early in the day.

Browns Investments sold its entire 9.99% stake in Hatton National Bank — 45.3m shares crossed at Rs.305 for Rs.13.82bn. Capital Alliance Securities brokered the buyer and facilitated 60% of the trade, which pushed market turnover past Rs.15bn in the first two hours.

Colombo market opened subdued with the ASPI up 1.78 points and turnover rising to Rs. 3.7bn; foreigners were net buyers of Rs. 70.1m. Key contributors included CCS, HHL, HAYL, DIAL and BIL, with strong activity in Food, Beverage & Tobacco.

The Colombo market paused its upward run as the ASPI fell 0.37% and the S&P SL20 dropped 0.5%, while foreigners recorded a net inflow of Rs.170 million. Turnover was Rs.1.5 billion with top contributors John Keells, Commercial Bank and Hayleys and the banking sector leading activity.

Colombo Bourse opened the week higher: ASPI +0.1% and S&P SL20 +0.3% with turnover Rs. 2.6bn, led by banking stocks (Pan Asia, Commercial Bank, Seylan, HNB) and gains in John Keells and C T Holdings.

Colombo bourse closed the shortened week with the ASPI up 2.9% and S&P SL20 up 3.5%, average daily turnover Rs.3.67bn, led by gains in JKH, LOLC, CARS, EBCR and SAMP; foreigners recorded a net inflow of Rs.157.2m.

Colombo market gained further momentum as the ASPI rose 1.15% (183.5 pts) with turnover of Rs. 4.5 billion led by heavy trading in John Keells, Lanka Realty, Commercial Bank, LOLC Holdings and Sampath Bank. Separately, Lanka IOC announced a first and final dividend of Rs. 5 per share.

Colombo market jumped as the ASPI rose 215 points (1.35%) to 16,131, reclaiming the 16,000 level with turnover of Rs.3.3bn. HNB, COMB, CFIN, SAMP, SPEN and JKH were among the top drivers and foreign investors were net buyers (Rs.25.5m).

Agalawatte Plantations said Damro disposed of 32,500,000 shares (20.8%) sold to A & M Properties at Rs51.90 each for Rs1.68 billion. Earlier this week Damro also sold FLMC Plantations to Browns Power Holdings, a subsidiary of Browns Investments, for Rs4.8 billion.

The ASPI fell 120 points (0.75%) to 15,842 as investors reacted to the ruling NPP's weaker-than-expected LG poll showing, with turnover of Rs. 3.2bn. Major drags included JKH, CINS, COMB, SPEN and SAMP while Food, Beverage & Tobacco led turnover (61%).

Colombo Stock Exchange closed higher in a shortened session, with the ASPI up 45 points to 15,962 (S&P SL20 +0.22%). Turnover was about Rs.1.48–1.5 billion and foreign investors net sold Rs.177.3 million; key contributors included MELS, WIND, SPEN, SAMP and heavy turnover in CTC, BIL and KOTA.

Browns Investments PLC's subsidiary Browns Power Holdings acquired 100% of FLMC Plantations for LKR 4.8 billion on May 5, 2025, making BIL the largest tea producer in Sri Lanka with ~17.5m kg annual made tea capacity. FLMC controls ~11,500 ha across 24 estates producing ~4.3m kg made tea and ~2.3m kg rubber annually.

Browns Investments Plc (via subsidiary Browns Power Holdings) acquired FLMC Plantations (Pussellawa Plantations) for Rs 4.8 billion, adding over 11,500 hectares and raising the group's annual made tea capacity to about 17.5 million kg.

Browns Investments PLC (BIL) acquired FLMC Plantations Ltd. from Damro and Piyestra for Rs. 4.8 billion under a share sale and purchase agreement. FLMC holds Pussellawa Plantations (11,500 ha across 24 estates producing ~4.3m kg made tea and ~2.3m kg rubber) and Melfort Green Teas, boosting the group's tea capacity to ~17.5m kg.

The CSE opened May on a mixed note as turnover hit a new high of Rs. 6 billion while the ASPI rose 52 points to 15,852; crossings in CT Holdings and Cargills dominated activity, together accounting for the bulk of turnover. Banking and food retail stocks, including Pan Asia Banking and Lankem, were also among top contributors.

Colombo market extended gains as the ASPI rose 56 points (0.35%) to 15,867 on turnover of Rs.2 billion with foreign net inflows of Rs.25.5m. Food, Beverage & Tobacco and Materials led turnover and gains while banking showed subdued sentiment.

Colombo bourse rose as the ASPI gained 69 points (0.44%) to close at 15,811 on turnover of Rs. 2.79bn, while foreigners were net sellers (net outflow Rs. 101.4m). John Keells, Hemas, Vallibel Finance and Commercial Bank were among top contributors, with capital goods leading turnover and diversified financials and food/beverage active.

Colombo Bourse closed the week higher, with the ASPI up ~2% and finishing at 15,742 after a 126-point gain on Friday. Market gains were led by LOLC, RCL, NDB, SUN and MELS, with Friday turnover at Rs.2.4bn (Capital Goods, Food & Beverage and Diversified Financials leading) while foreigners were net sellers (Rs.103.6m).

The ASPI gained 72 points (+0.5%) to 15,616 as the Colombo market bounced back, led by the capital goods sector. Turnover was about Rs.1.5 billion with net foreign inflows of Rs.35.2m; notable movers included Hemas, John Keells, Browns, Alumex and DFCC.

Colombo stocks rallied 0.46% after President Dissanayake said tariff talks with the US were productive, with the ASPI up 71.64 points to 15,615.63. Export-focused names were quieter despite the market uptick.

Ceylon Capital Management bought 23 million shares in Browns Investments PLC, acquiring an additional 19 million at Rs.6.80–7.30 (~Rs.134m) to raise its holding to 23m shares (0.17% stake), placing CCM among Browns' top 15 shareholders.

Colombo market stayed bearish as the ASPI fell 43 points (0.28%) and the S&P SL20 dipped 0.68% on turnover of Rs.991.4m, with foreign net selling of Rs.63.4m. Banking names (COMB, HNB, NDB) and JKH weighed on the index while pockets of interest were seen in CINS, ASIR and COCR and retail interest in PAP, LVEF and LOFC.

Colombo stocks fell with the ASPI down 0.28% at 15,555.86 as uncertainty over US tariffs and Fed interest-rate commentary hit exporters and banks; key decliners included John Keells, Hayleys, Teejay, Haycarb and major banks, with a net foreign outflow of Rs 64m.