News & market updates

ASPI rose 130 points (1.19%) to 11,097 on a late rally after the presidential election, led by banking and blue‑chip gains (Commercial Bank, Hatton National Bank, Sampath Bank); turnover was Rs.994.4m and foreigners were net sellers by Rs.5.2m.

Colombo Stock Exchange closed higher: All Share Index rose 1.19% to 11,096 and S&P SL20 rose 1.88% to 3,160. Larger banks (HNB, COMB, SAMP, DFCC, NDB) led gains while some smaller banks (NTB) fell and HDFC was flat; turnover was 994 million and net foreign outflow 5.2 million.

Colombo stocks rose ahead of the Presidential election as the ASPI gained 0.75% yesterday (up 2.7% WoW) and now shows a 2.93% YTD return, while the S&P SL20 rose 1.3% (4.1% WoW, 1.10% YTD). Banking stocks led the rally—Commercial Bank, Hatton National, NDB and Sampath were key movers—and turnover was driven by HNB, COMB and SAMP; foreigners were net sellers of Rs.12.1m.

Colombo Stock Exchange closed higher with banks leading gains after Sri Lanka reached a deal to restructure defaulted sovereign bonds allowing local banks to swap 70% of ISBs into dollar bonds with a 10% haircut and convert the remaining 30% into rupee securities.

Commercial Bank of Ceylon has commenced planting 10,000 trees in Jaffna and Kilinochchi districts on 600 acres of University of Jaffna land and along sections of the A9 road. The planting will be done in three phases (3,000; 3,000; 4,000) as part of its ‘Trees for Tomorrow’ 100,000-tree initiative.

Colombo market closed higher as the S&P SL20 rose 0.8% and the ASPI gained 0.5% with turnover of Rs. 1.22bn, led by the banking sector which contributed 45% of turnover and saw its sector index up 1.17%. Top positive contributors included Commercial Bank, Melstacorp, NDB, Browns Investments and John Keells; HNB, COMB, NTB and PABC recorded gains while Sampath slipped.

PMF Finance PLC received an initial Rs. 500 million disbursement of a Rs. 1 billion funding facility from Commercial Bank of Ceylon to support SME development.

Colombo Stock Exchange closed higher: All Share Index +0.54% to 10,884 and S&P SL20 +0.81% to 3,061, led by bank stocks which generated Rs5,514mn of turnover. Total turnover was Rs1.2bn with a net foreign outflow of Rs38.96mn; top turnover names included HNB, Commercial Bank, Sampath and Nations Trust.

ASPI rose 1.34% to 10,826 and the S&P SL20 gained nearly 2% as banking counters led gains and accounted for 46% of turnover; top contributors included Sampath Bank, Hatton National Bank, John Keells, Aitken Spence and Hayleys.

PMF Finance PLC (PMB.N0000) received an initial Rs. 500 million disbursement under a Rs. 1 billion funding facility from Commercial Bank of Ceylon (COMB.N0000) to strengthen its capital base and support SME lending.

Colombo Stock Exchange closed higher: All Share Index up 1.34% to 10,826 and S&P SL20 up 1.92% to 3,037, with bank stocks leading turnover (Rs424mn) and most banks rising. Net foreign outflow was Rs71mn; foreign buying seen in Ceylinco, Chevron Lubricants and Browns Investments while selling affected Commercial Bank, Access Engineering, Co-operative Insurance, Nations Trust and Sunshine.

Commercial Bank of Ceylon Head of Islamic Banking Feroza Ameen won Gold in the 'Women in Islamic Finance' category at the SLIBFI awards 2024. Ameen, who helped set up the bank's Islamic Banking Unit in 2011, represents the bank at the Association of Alternative Financial Institutions.

Commercial Bank of Ceylon held an Agri Modernisation Fair in Vavuniya to promote smart agriculture and showcase technologies, with participation from Hayleys, AgStar, John Deere, DIMO, CIC and Browns. The event included lectures on economics of modern farming and practical drone demonstrations for input application.

ASPI closed at 10,683, up 116 points (1.1%) on the day, though ASPI and S&P SL20 fell 0.9% and 1.1% for the week. Banking and capital-goods counters led gains, turnover was Rs.1.2bn and foreign investors were net buyers of Rs.80.4m.

Commercial Bank of Ceylon PLC became the first Sri Lankan bank granted a Corporate Finance Adviser licence by the SEC, enabling it to provide Section 188 advisory services (capital raising, M&A, restructuring) and levy fees for those services.

Colombo Stock Exchange closed higher: All Share Index up 1.10% to 10,683 and S&P SL20 up 1.86% to 2,979 on turnover of 1.2 billion, led by banks and blue-chips (notably HNB and JKH) and with a net foreign inflow of 80.39 million.

Commercial Bank organised an 'Agri Modernisation Fair' in Vavuniya to introduce modern farming technologies and promote smart agriculture to local farmers. The day-long event included partners such as Hayleys, AgStar, John Deere, DIMO, CIC and Browns and covered drone use, modern paddy techniques and economic sessions.

ASPI slipped 0.07% to 10,567 while the S&P SL20 rose 0.06%, with turnover at Rs.1.14bn led by the banking sector (63%); key movers included declines in Commercial Bank, HNB, Sampath Bank, John Keells and Ceylinco, while Dipped Products saw mixed interest.

Commercial Bank of Ceylon PLC became the first Sri Lankan bank to receive a Corporate Finance Advisor licence from the Securities and Exchange Commission. The licence authorises the bank to provide Section 188 advisory services (capital raising, M&A, restructuring, valuations) and levy fees, expanding its fee-income capabilities.

Parliament approved offshore banking regulations for Port City Colombo on 4 September, enabling offshore branches and granting six local banks (including Commercial Bank, HNB, DFCC, NDB and NTB) Authorised Person status. The rules permit direct foreign-currency transactions under Central Bank and FIU oversight to attract FDI.

Colombo Stock Exchange closed down: the All Share Index fell 0.07% to 10,567 while the S&P SL20 rose 0.06% to 2,925, turnover was LKR 1.1 billion and there was a net foreign inflow of LKR 13.49 million; banks (Commercial Bank, HNB, Sampath) led turnover.

Colombo market closed modestly higher with the ASPI up 4 points to 10,575 and turnover of Rs.1.03 billion. Banking stocks made up 54% of turnover while Royal Ceramics, NDB and Asian Hotels & Properties led gains and Commercial Bank, Nations Trust Bank and Sierra Cables fell.

Sri Lanka Parliament approved offshore banking regulations for Port City Colombo on 4 Sep 2024; six local banks, including Commercial Bank, HNB, DFCC, NDB and NTB, were approved as Authorised Persons by the CPCEC to operate offshore banking services.

The ASPI fell 0.65% to 10,571, taking its YTD return to -0.78%. Declines in Commercial Bank, John Keells, Sampath and HNB led the drop; turnover was Rs.1bn (up 46.9% vs monthly average) and foreign investors were net buyers of Rs.131.1m.

ASPI fell 0.65% to 10,571, pushing its YTD return to -0.78% — the first YTD negative for 2024. Banking and blue-chip counters (Commercial Bank, John Keells, Sampath, HNB, DFCC) led declines; turnover was Rs.1bn (up 46.9% vs monthly avg) and foreigners net bought Rs.131.1m.

CHEC Port City said three international banks are in talks to set up offshore operations in Colombo Port City and that Commercial Bank, HNB, DFCC, NDB and Nations Trust have been approved as Authorised Persons to operate in the special economic zone. The rules allow multicurrency offshore transactions under CPCEC with Central Bank oversight.

Commercial Bank of Ceylon's Head of Islamic Banking, Feroza Ameen, won Gold in the 'Women in Islamic Finance' category at the SLIBFI Awards 2024. Mrs Ameen, who helped set up the bank's Islamic Banking Unit in 2011, represents Commercial Bank on industry bodies promoting Islamic finance.

Colombo Stock Exchange closed down — All Share Index fell 0.86% to 10,571 and S&P SL20 fell 1.25% to 2,923, with turnover Rs1.2bn. Top turnover stocks included John Keells, HNB, Richard Pieris, Commercial Bank and Alliance Finance, with net foreign inflow of Rs131.7m.

Commercial Bank of Ceylon opened a new full-service branch in Ward No 1, Puthukkudiyiruppu (Mullaitivu), offering operations, credit, pawning and equipped with an ATM and a cash recycler for 24/7 access.

Colombo market fell as S&P SL20 dropped 1.77% and ASPI declined 1% with turnover of Rs. 1.23 billion and net foreign inflow of Rs. 44.8 million. Commercial Bank, Hatton National Bank, Ceylon Tobacco Company, Sampath Bank and Royal Ceramics were the top negative contributors.