News & market updates

ASPI fell 30 points to 17,997 as turnover hit Rs.7.63 billion, led by large crossings in LOLC Finance, L B Finance and Sampath Bank. Top turnover contributors included LOFC, JKH, Central Finance, Panasian Power and Sampath Bank, while foreign investors were net sellers of Rs.3.4bn.

Colombo Stock Exchange ASPI fell 0.17% to 17,996.73 as profit-taking trimmed gains after a record high. HNB, NDB, C T Holdings and Carson Cumberbatch were among the decliners, while consumer shares saw buying interest and turnover rose to 7.6 billion rupees.

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 Stock Exchange rose 0.40% as the US-China tariff truce lifted sentiment; ASPI gained 64.40 points to 16,379.39, led by gains in John Keells, LOLC, Carson Cumberbatch, E B Creasy and Sampath Bank.

The Colombo market opened April higher, with the ASPI up 119 points (0.76%) on turnover of Rs. 1.9 billion. Banking stocks saw early selling around XD dates while blue-chips and capital goods (e.g. Hayleys, John Keells, Melstacorp) were key contributors.

Carson Cumberbatch PLC (via its subsidiary Pegasus Hotels of Ceylon PLC) sold its entire 2.173 million-share holding in Equity Hotels Ltd to Lavendish Leisure for Rs. 243.5 million. Following the sale, Equity Hotels will no longer be part of the Carson Cumberbatch/Bukit Darah group.

ASPI rose 0.1% for the week and jumped 1.4% (216 points) on Friday as banking and capital goods stocks led gains. Turnover averaged Rs.1.9 billion for the week and foreign investors were net sellers of Rs.140.2 million.

Sri Lanka's ASPI rose 1.38% to 15,879.33 as buying interest returned, led by gains in Commercial Bank, HNB, NDB, DFCC and Carson Cumberbatch; turnover fell to 1.66 billion rupees and there was a net foreign outflow of 140 million rupees.

ASPI fell 43 pts (0.27%) to 16,123 as turnover dropped to Rs.2.36bn. CTC, MELS, CCS and BIL were notable negatives while HAYL, SEYB, HHL and CARS led gains; John Keells dominated turnover and its share rose 10c.

Sri Lanka's ASPI closed up 0.72% as renewed buying interest lifted the market, led by financials and with tourism stocks in focus; turnover was Rs 1.6 billion and there was a net foreign outflow of Rs 123 million.

The ASPI fell 2.3% for the first week of February despite a 1.38% rebound on Friday; weekly turnover averaged Rs.4.16bn and Friday turnover was Rs.2bn. Ceylinco, Melstacorp, John Keells and Aitken Spence were among Friday's top contributors, while Watawala, Seylan Bank and SMB Finance were key detractors.

Colombo market opened February lower as the ASPI and S&P SL20 fell about 1%. Turnover was Rs.3 billion with foreigners net sellers of Rs.179.3m; key decliners included HNB, LOLC, BUKI, CARS and CFIN, while SPEN, TJL and CCS were notable gainers.

The India Cup Golf Tournament 2025, hosted by ILCCI at Royal Colombo Golf Club on 24 Jan, drew over 100 participants and served as a networking event for Indian and Sri Lankan business leaders; sponsors included Carson Cumberbatch, Lanka Ashok Leyland, Lanka IOC and Sunshine Holdings.

Colombo bourse closed marginally lower: ASPI down 0.02% at 17,117.18 and S&P SL20 down 0.65% at 5,126.31, turnover Rs8.4bn and net foreign outflow Rs923.9m. Buying interest returned to banks and finance stocks after vehicle import relaxation, and construction names such as Access Engineering saw inflows.

Colombo market rose with the ASPI up 0.8% on turnover of Rs. 6 billion, led by heavy trading in John Keells, Lanka IOC, HNB, Alumex and Browns and a net foreign outflow of Rs. 492.4 million. JKH fell to Rs. 23.10, HNB rose to Rs. 350.25, LIOC to Rs. 142.25, Alumex to Rs. 15.90 and Browns to Rs. 8.50.

Sri Lanka's ASPI rose 0.75% to 17,044.67, led by gains in capital goods and power/energy with top contributors including Lanka IOC, Melstacorp and Bukit Darah. Turnover was 5.9 billion rupees, with a net domestic inflow of 492 million and a net foreign outflow of 492 million rupees.

Colombo Stock Exchange ASPI rose 0.77% (105.38 pts) to 13,718 as turnover reached Rs4.4bn. Major contributors were diversified financials, capital goods and food/beverage/tobacco, with heavy volumes and gains in Asia Asset Finance, Ambeon Capital, Hayleys, Central Finance, Lanka IOC and others; Sampath Bank fell and net foreign inflow was Rs47mn.

Seven listed corporates (John Keells, Carson Cumberbatch, Aitken Spence, LOLC, Commercial Bank, Sunshine and Elpitiya Plantations) supported the Daily FT-CICRA 10th Annual Cyber Security Summit, which provided cyber security training to over 100 state university students. The full-day event covered fraud detection, data breaches and AI-related cyber risks and included a night hack and CEO Forum.

Fitch affirmed Lion Brewery (Ceylon) PLC’s National Long-Term Rating at 'AAA(lka)' with a Stable outlook, citing strong market position and financials but noting medium-term competition from a new beer launch; Fitch also highlighted net cash position, margins and export plans.

Carson Cumberbatch PLC appointed W.M. Ravindra S. Dias as Group Chairman effective 25 September 2024. He succeeds Tilak de Zoysa (who stepped down after 24 years, 23 as Chairman); Rajendra Theagarajah also resigned as an Independent Non-Executive Director.

ASPI rose 326 points (2.87%) to 11,660, the biggest single-day gain in 14 months, as turnover hit Rs.4 billion and banks and blue-chip counters led a broad-based rally following the presidential election.

Hayleys tops the LMD 100 for FY2023/24 with consolidated revenue in excess of Rs.436 billion. Commercial Bank is second with nearly Rs.342 billion and LOLC third with over Rs.337 billion; Ceylon Tobacco leads profitability with PAT above Rs.27 billion.

Planters’ Association of Ceylon will hold its 170th AGM on 14 September with Hayleys PLC Chairman Mohan Pandithage presiding; the meeting will appoint the 2024/25 chairman and executive committee and focus on productivity, diversification and sustainability in the plantation sector.