News & market updates

The Colombo All Share Price Index fell 1.44% to 21,672.42 as Brent crude topped $100/bbl. Commercial Bank, Hayleys and Hatton National Bank were top negative contributors, and John Keells Holdings said its unit is selling a 98.39% stake in Kandy Walk Inn (Cinnamon Citadel).

John Keells Hotels (KHL.N0000) agreed to sell its 98.39% stake in Kandy Walk Inn Ltd, owner of the Cinnamon Citadel Kandy, to Lavendish Leisure for Rs. 2.777 billion, with completion expected by 31 March. The hotel will remain managed under the Cinnamon brand for at least 12 months and proceeds will be used for capital allocation and upgrades.

ASPI fell 1.63% to 21,998.12 as Middle East tensions and higher oil prices weighed on the Colombo market. S&P SL20 dropped 1.71% to 6,172.28 with broad declines led by JKH, HNB, MELS, HAYL and SAMP; turnover topped Rs.4.1bn and foreigners were net buyers of Rs.32.2m.

Melstacorp sold 2 million shares of Distilleries Company of Sri Lanka on 11 March at Rs.59 each (≈Rs.118m), trimming its holding from 92.40% to 92.35% while retaining control.

Hayleys PLC received CSE in-principle approval to list debentures to raise up to Rs. 7 billion (initial 50 million debentures to raise Rs. 5 billion, with an option for 20 million more). The issue has three tranches: 5-year fixed at 10.6% (10.88% eff), 5-year floating at 1Y T-bill+2% (9.5% floor/11.5% cap) and 7-year fixed at 11.15% (11.46% eff); subscription opens 17 March.

Colombo Stock Exchange closed down 1.34% on Friday, with the ASPI at 21,692.55. Melstacorp said parent Milford Exports bought 1,000,000 shares raising its stake to 42.97%; Commercial Bank, Hayleys and Hatton National Bank were top negative contributors and Brent crude neared $100/bbl.

Lina Manufacturing, the pharmaceutical arm of Sunshine Holdings (SUN.N0000), was Diamond Sponsor of RESPIRE 2026 held 15–17 Feb 2026, a respiratory medicine congress attended by over 300 participants to support clinical collaboration and knowledge exchange.

City of Dreams Sri Lanka and Cinnamon Hotels & Resorts (John Keells Hotels group) have partnered with FitsAir to launch direct Ahmedabad–Colombo scheduled flights operating three times weekly, boosting Indian leisure connectivity; curated Cinnamon holiday packages start from INR 55,555.

Dipped Products PLC (DIPD.N0000) rang the Colombo Stock Exchange opening bell to mark its 50th anniversary. The manufacturer of protective handwear and plantation services, a member of Hayleys PLC (HAYL.N0000), serves customers in over 70 countries.

Sri Lanka's ASPI fell 1.63% to 21,988.12 as global uncertainty and Brent crude near $101.6 weighed on markets; John Keells Holdings, Hatton National Bank and Melstacorp were top negative contributors. Melstacorp said it sold 2,000,000 Distillery Company shares at Rs.59, trimming its stake to 92.35%.

Colombo Stock Exchange ASPI fell 1.18% to 22,088.70 midday (S&P SL20 down 1.19% to 6,204.94) with turnover of Rs.1.82 billion; capital goods contributed Rs.541 million. Hatton National Bank, John Keells Holdings and Melstacorp were top negative contributors, and DFCC Bank said it will list its Blue Bond on the Luxembourg Stock Exchange (DFCC stock down 2.44% intraday).

FitsAir will launch thrice-weekly Ahmedabad–Colombo flights from May 15, with travel packages bundled with Cinnamon Hotels stays (including Cinnamon Life at City of Dreams), expected to boost inbound leisure demand to Cinnamon's Colombo properties.

John Keells Logistics (part of John Keells Holdings) has expanded its engagement with Colombo West International Terminal to provide inter‑terminal transport (ITT) services at the Port of Colombo, using real‑time fleet tracking and tech‑enabled operations to boost efficiency and coordination.

Dipped Products PLC (DIPD.N0000) rang the Colombo Stock Exchange opening bell to mark its 50th anniversary. DPL, a Hayleys PLC group company, is a leading protective handwear manufacturer and plantation manager exporting to over 70 countries.

Asia Securities convened 150+ investors and corporate leaders at the Sri Lanka Investor Conference 2026 to present a constructive capital-market outlook, with speakers citing roughly 4% GDP growth prospects for 2026. Panels highlighted construction, banking/finance, consumer and digital sectors as key growth drivers and projected strong corporate earnings expansion.

ASPI fell 0.12% to 22,351.55 as profit-taking dragged the Colombo market, with declines in MELS, DOCK, CARS, SPEN and LLUB; market turnover was over Rs.4.3bn and foreign investors were net sellers of Rs.21.36m.

Colombo Stock Exchange closed down as the All Share Price Index fell 0.14% to 22,346.09; turnover was Rs4.31 million with diversified financials contributing over Rs1 billion. Central Finance rose to Rs250.50, while Melstacorp, Colombo Dockyard and Carson Cumberbatch were among the top decliners.

Hayleys Mobility (Hayleys group) has partnered with Kaiyi Auto to launch the fully electric Kaiyi eVibe in Sri Lanka at an introductory price of Rs. 7.9 million. The sub-compact EV offers a 300 km CLTC range and the first 100 buyers receive a complimentary 3kW solar system.

John Keells CG Auto launched the BYD SEALION 8 seven-seat plug-in hybrid SUV in Sri Lanka on 10 March 2026, including the high-performance DM-p variant; the model is now available at BYD showrooms nationwide.

ACP Asset Management launched the first Sri Lanka-focused UCITS fund, seeded with $10m and expecting a further $25m within 30 days, targeting $100m AUM in 6–12 months. The fund will invest in Sri Lankan equities, sovereign eurobonds and liquid treasury instruments and aims to draw foreign capital into sectors including banking, construction, F&B and tourism.

Colombo market rebounded as the ASPI rose 2.17% (474.38 pts) to 22,378.52 after global oil prices fell below $95/bbl, with gains led by banks and blue-chips including HNB, SAMP, COMB and DIAL and turnover of about Rs.4.48bn.

Colombo Stock Exchange's ASPI rose 2.17% to 22,378.52 on Tuesday as global oil fell below $100/bbl. Hatton National Bank, Sampath Bank, Commercial Bank and Dialog Axiata were top positive contributors; Softlogic Holdings (up 47.22% after six crossings) and Renuka Hotels saw notable turnover.

The ASPI plunged 3.51% to 21,904.14 as panic selling and a >25% surge in crude to about $115/bbl on Middle East conflict hit the CSE; banking and blue-chip stocks (Commercial Bank, HNB, JKH, Sampath, C T Holdings) led declines while Lanka IOC rose.

Aitken Spence (SPEN.N0000) via Aitken Spence Travels facilitated shore excursions for about 700 passengers from the Viking Sky cruise that called at Colombo Port. The visitors took curated city, cultural and scenic tours promoting Destination Sri Lanka.

Colombo's ASPI plunged 797.77 points (3.51%) to 21,904.14 as global oil prices surged over 20% after West Asia supply shocks. Major negative contributors were Commercial Bank, John Keells, Hatton National Bank, Sampath Bank and National Development Bank, with heavy selling in banks (Rs.1.86bn).