Colombo Stock Exchange midday: ASPI rose 0.56% to 21,306.64, led by gains in Colombo Dockyard, Dialog Axiata, Melstacorp, PGP Glass, Commercial Bank and Kelani Cables while Vidullanka fell. R I L Property disclosed public shareholding is 46.1071% after prior miscalculations.
ISO has published a Chinese-developed standard for corrosion testing of conducting alloys in AC conditions and IEC approved a Chinese-led offshore wind standard; the measures aim to improve conductor lifespan and could cut maintenance/operational costs by over 10%.
Colombo Stock Exchange fell 3.04% (690.76 pts) to 22,022.06 after Cyclone Ditwah, with selling across the market; construction names saw buying—Access Engineering +2.40 to 74.00, Kelani Cables +34.00 to 1,139.50, ACL Cables +3.00 to 225.00.
Sri Lanka stocks rose 0.7% on Monday, led by financial shares as the ASPI gained 164.34 points to 23,502.59. Top contributors from the shortlist included HNB, Sampath Bank, Commercial Bank and NDB, while construction names like Access Engineering and Kelani Cables also gained and John Keells reported a 21% quarterly profit rise.
The ASPI closed at 21,599, rising 0.36% (78 points) on the day and finishing the week up 2.4% (S&P SL20 up 1.9% for the week). Turnover was Rs.6.02bn yesterday (week avg daily Rs.7.11bn); capital goods led turnover and top contributors included Hemas, Melstacorp, Commercial Bank, CIC, Gran, Sunshine, Kelani Cables and John Keells.
Colombo ASPI rose 0.36% to 21,598.99, led by gains in Dialog Axiata, Hemas Holdings, Ceylon Grain Elevators, Sunshine Holdings and Kelani Cables, with market turnover at 6 billion rupees.
The Colombo market closed with the ASPI at 20,992, up 16 points, on turnover of Rs.5.6 billion; weekly ASPI and S&P SL20 fell 0.03% and 1.19% respectively. Property, capital-goods and consumer services stocks led turnover while select hotels and developers saw mixed flows and sizable corporate stake transactions were reported.
The Sri Lanka–Maldives Business Council held its 17th AGM and Maldives Business Forum, generating about $60–70m in potential investments including several hotel projects; Aitken Spence and John Keells executives took council leadership roles and Kelani Cables is on the new committee.
ASPI rose 138 points (0.8%) to 17,353 as the CSE extended its rally on turnover of Rs.7.37bn, led by heavy trading in CDB and CFIN; notable price gains were seen in CDB, CFIN, CTC, HHL, CIC and SUN, while SPEN topped net foreign buying and PKME topped net foreign selling.
Construction Activity
Daily FT·Feb 19, 2025·Award or certificationPositive
Kelani Cables PLC (KCAB.N0000) was awarded Authorised Economic Operator (AEO) Tier I status by Sri Lanka Customs, granting streamlined customs processes, reduced inspections and expedited clearance for its exports to over 10 countries.
Colombo Stock Exchange rose as banking stocks led gains after Fitch upgraded several Sri Lankan banks; the ASPI closed up 1.40% at 16,828.80. Turnover was LKR 10.66bn with a net domestic inflow of LKR 670m and a net foreign outflow of LKR 670m; notable movers included HNB, NDB, Browns and Ceylon Tobacco.
ACL Cables (ACL.N0000) is promoting the proposed SLS 733 Part Two fire‑retardant PVC cable standard as the Sri Lanka Standards Institution invites public comments; the standard aims to set stricter flame‑retardant criteria for cables to improve home safety.
ASPI fell 9 points to 12,300 with turnover of Rs.19.3 billion; John Keells Holdings (JKH.N0000) led turnover (Rs.676m), had rights converted to ordinary shares and rose to Rs.199.
ASPI closed down 4 points at 12,309 while S&P SL20 rose 2 points, with turnover of Rs.1.5 billion and foreign investors net selling Rs.109.4 million. ACL, UAL and HELA were among gainers while CFIN, LMF, LIOC, HAYL, RCL and SPEN were notable losers; Capital Goods led turnover.
Construction ActivityTea & Plantation CropsConsumer Staples (FMCG)
Cable Solutions Ltd. (CSLK) will begin public trading on the CSE Diri Savi Board on 14 August after an IPO that raised Rs. 109,999,500 and was oversubscribed; proceeds will fund new machinery (81.8%) and working capital (18.2%).