News & market updates

Colombo stocks slipped as the S&P SL20 fell 0.4% and the ASPI 0.2%, with turnover rising to Rs. 798 million aided by crossings. Banking counters (Commercial Bank, HNB, Sampath) and blue chips (JKH, CTC) led losses while Kelani Tyres gained and foreign investors were net buyers (+Rs.15.6m).

The Sri Lanka–Korea Business Council panel featured Advocata chair Murtaza Jafferjee warning that rising debt, high interest rates and sharp rupee depreciation threaten fiscal stability and require reforms; IMF projects about 3% annual GDP growth for 2024–29 contingent on disciplined policy.

Colombo bourse closed mixed: ASPI fell about 12 points to 11,482 while the S&P SL20 gained 2.6 points on turnover of Rs. 547 million, led by Sampath Bank (Rs.112m); banking stocks dominated turnover (32%) while front-line counters showed mixed performance.

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.

Colombo Stock Exchange closed with the All Share Index down 0.11% at 11,482 and the S&P SL20 up 0.08% at 3,302, on turnover of 547 million and net foreign inflow of 580,955. Top movers included Sampath Bank, NDB and Aitken Spence (higher), Chevron Lubricants and Teejay (foreign buying) and Melstacorp (down).

Commercial Bank of Ceylon's home loans portfolio reached Rs. 72.965 billion as at 31 March 2024, making it the market leader in Sri Lanka's home loans. The bank — the first private sector leader in this segment — highlighted product offerings including first-time buyer schemes, Green Home Loans (including residential solar) and flexible repayment options.

Commercial Bank of Ceylon's home loans portfolio grew to Rs. 72.965 billion as at 31 March 2024, making it the market leader in Sri Lanka's home loans market. The bank highlighted product suites including first-time buyer, green and flexible home loan schemes.

Colombo Stock Exchange closed lower as All Share Index fell 0.08% to 11,494 and S&P SL20 fell 0.02% to 3,300, with differing informal election polls weighing on sentiment. Turnover was 580 million with net foreign inflow of 47.8 million; crossings included JKH, TJL and MELS, and Lanka Aluminium declared a Rs1 dividend.

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 Stock Exchange closed down—All Share Index fell 0.24% to 11,504 and S&P SL20 fell 0.24% to 3,300, with turnover of 539 million as election polls increased investor uncertainty.

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 Stock Exchange closed higher—ASPI +1.03% and S&P SL20 +1.31%—with banking stocks drawing interest after positive interim results; Hatton National Bank posted a LKR 15.4 billion profit after tax for the six months to June 2024.

Sampath Bank PLC partnered with the Export Development Board to run regional programs improving the digital presence of export-potential SMEs in Kandy and Kurunegala. Sessions included presentations by Sri Lanka Telecom and Sampath Bank and will expand to other provinces.

Colombo Stock Exchange closed higher: All Share Index up 0.58% at 11,413 and S&P SL20 up 1.05% at 3,278, with turnover of 1.3 billion. Banks drew interest after positive interim results — Hatton National Bank posted a six-month PAT of 15.4 billion; John Keells saw 144 million in foreign buying while Hayleys faced foreign selling.

Sampath Bank will receive the 'Asia’s Best Bank for Corporate Responsibility' award at Euromoney Awards for Excellence 2024 on 12 Sept in Singapore; it allocated Rs. 91.3 million to CSR in 2023 (1% of net profit), supporting 84 projects including tank restoration, tree planting, reef and healthcare initiatives.

Sampath Bank will receive the 'Asia’s Best Bank for Corporate Responsibility' award at the Euromoney Awards for Excellence 2024 on 12 September in Singapore after allocating Rs.91.3 million (US$300,000) and 1% of net profit to CSR projects in 2023. Its CSR supported 84 projects including restoring 25 tanks by Aug 2024, tree planting, coral and mangrove restoration, and Rs.50 million for ambulance maintenance.

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.

Sampath Bank reported 1H2024 PAT of Rs. 11.1 billion (up 45%) and PBT of Rs. 18.5 billion (up 40%). Net interest income rose 20.3% to Rs. 41.0 billion as interest expense fell; CET1/Tier 1 at 16.98% and total capital ratio 19.96%.

Colombo Stock Exchange closed higher: All Share Index +0.44% (11,303.22) and S&P SL20 +0.46% (3,224.96) with turnover Rs403.4m as election campaigning reduced activity. Sampath Bank led gains, up 1.6% after better-than-expected interim results and a Rs10 billion debenture issue.

Siyapatha Finance PLC, the largest fully owned subsidiary of Sampath Bank, opened its 50th branch in Valaichchenai. The expansion broadens Siyapatha's islandwide network, includes CSR donations and digital services, and supports access to its lending and deposit products in the region.

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.

Sampath Bank reported 1H 2024 PAT of Rs 11.1 Bn (up 45% YoY) and PBT of Rs 18.5 Bn (up 40%). Growth was driven by a 20.3% rise in NII to Rs 41 Bn, loan and deposit expansion and strong capital ratios, while net trading and FX revaluation losses partly offset results.

Colombo Stock Exchange closed down: ASPI fell 0.36% to 11,253 and S&P SL20 fell 0.43% to 3,210, with turnover Rs629mn. Top contributors included Sampath (up after stellar interim results and a Rs10bn debenture announcement), DFCC and SMB Finance, while several banks including HNB, NDB and Commercial Bank weighed on the index; net foreign inflow was Rs19mn.

Sampath Bank will issue 100 million debentures at Rs100 each to raise up to Rs10 billion, with an initial Basel III-compliant Tier 2 tranche of 50 million (Rs5bn) and options to issue further tranches on oversubscription. The issue is subject to regulatory and shareholder approvals.

Colombo Stock Exchange closed higher: ASPI up 0.37% to 11,293 and S&P SL20 up 0.39% to 3,226, with turnover Rs582mn and John Keells (JKH) accounting for Rs160mn. Several banks closed mostly in green; Hayleys Fabric and CIC reported interim profit growth and lower finance costs due to lower interest rates.

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.