News & market updates

Access Engineering (AEL) signed a 20-year PPA with the Ceylon Electricity Board for a 6.6 MW solar PV installation and formed a 60%-owned SPV to build a $6.5m cyclotron-based radiopharmaceutical facility under a BOO agreement.

Colombo market fell with the ASPI down 1% and S&P SL20 down 1.5% on Rs.7.04bn turnover and a net foreign outflow of Rs.211.6m. Banks led turnover (65%) with DFCC and CDB among gainers while JKH, Commercial Bank, Sampath and Browns were top negative contributors.

Colombo Stock Exchange closed down: ASPI fell 1.00% to 12,982 and S&P SL20 fell 1.49% to 3,860, with turnover Rs7bn led by banks and a net foreign outflow of Rs211mn. Top negative contributors included John Keells, Commercial Bank, Sampath and Browns, while DFCC and CDB were top turnover generators.

The Colombo stock market edged up as the ASPI rose 8 points (0.06%) and the S&P SL20 gained 5 points (0.13%) on turnover of Rs.2.7 billion. John Keells, Commercial Bank, Lion Brewery, R.I.L. Property and food & beverage counters were among top contributors while foreign investors were net sellers of Rs.366 million.

CA Sri Lanka hosted the SAFA Best Presented Annual Report Awards 2023 in Colombo, where Sri Lankan firms won 24 awards. Several listed companies — including Commercial Bank, Hayleys, Haycarb, Royal Ceramics, Access Engineering, Kelani Valley, Talawakelle, DIMO, Sri Lanka Telecom, Ceylon Tea Brokers, NDB and L B Finance — received awards or merit recognitions.

Colombo Stock Exchange closed up: ASPI +0.06% to 13,113 and S&P SL20 +0.13% to 3,919 on turnover Rs2.7bn. Top contributors included John Keells, Commercial Bank, Lion Brewery and Access Engineering; banking stocks were mixed and there was a net foreign outflow of Rs366mn.

INSEE Cement held its inaugural INSEE Industry Conference on Nov 7 in Colombo to promote disruptive innovation and sustainability across Sri Lanka's construction sector. Access Engineering's Executive Vice Chairman Christopher Joshua spoke on innovation, resilience and industry best practices.

Colombo Stock Exchange closed higher as the ASPI rose 0.58% to 12,875 and the S&P SL20 gained 0.91% to 3,866, with banking stocks contributing over LKR 1bn of turnover. Vidullanka announced a scrip dividend listing and Ceylon Tobacco declared a third interim dividend of 40.9 per share.

Colombo stock market ended the week with marginal losses — the ASPI fell 0.5% for the week (up 0.6% on Friday) with Friday turnover of Rs. 2bn. Ceylon Tobacco announced an interim dividend of Rs. 40.90 per share; notable moves included gains in Royal Ceramics, Dipped Products and Lanka Milk Foods and a decline in John Keells.

ASPI closed at 12,728, up 9 points as turnover fell to Rs.2 billion; John Keells, Melstacorp and Dipped Products were top contributors while Commercial Bank and Sampath Bank declined, and foreign investors were net buyers of Rs.45.2m.

Access Engineering's SPV, Access Medical Tracers, won a BOO contract to build, own and operate a cyclotron-based radiopharmaceutical (FDG) production facility in Sri Lanka, with development cost estimated at $6.5m. Access Engineering holds a 60% stake in the SPV; groundbreaking is scheduled for Friday.

Colombo market fell for a third day as ASPI lost 77 points to 12,719 on profit taking, with turnover up at Rs.3.2bn and net foreign inflow of Rs.200m (Rs.199.8m into JKH). Banking and capital goods led activity while several counters (COMB, MELS, DFCC, RICH, NDB) weighed on the index.

Colombo market closed in red with the ASPI down 59 points to 12,796 on turnover of Rs.2.38bn. Banking led turnover (60%) as HNB, Sampath, Pan Asia and Commercial Bank were key movers; John Keells and Digital Mobility Solutions declared interim dividends.

Colombo market ended a seven-day winning streak as the ASPI fell 8 points and the S&P SL20 slipped 4 points, with turnover of Rs.1.86 billion. Banking stocks led turnover (34%) while quarterly results boosted PARQ, CONN and JETS, Sampath and Pan Asia were active, and Vidullanka announced an interim dividend of Rs.0.20 per share.

Colombo Stock Exchange opened November with Rs.5.0 billion turnover as ASPI rose 0.7% to 12,864. Diversified financials led turnover (52%) and an off-board crossing saw CDB's 12.7% stake trade at Rs.247.50; several banks and mid/small caps (HNB, PABC, DFCC) saw heavy activity or gains.

Colombo stock market turnover hit an 8-month high of Rs. 7 billion, led by Harischandra Mills (Rs.1bn), NDB (Rs.663m), Hayleys (Rs.534m), DFCC (Rs.340m) and PABC (Rs.339m); off-board trades transferred 13.9% of Harischandra and 10.7% of Swadeshi.

Access Engineering PLC appointed Dr. Vajira Kulatilaka and Manoha Rajakariar as Independent Non-Executive Directors. Both bring extensive finance and corporate governance experience, with current or prior directorships and senior roles at multiple listed firms.

ASPI rose 0.7% to 12,610 (a 32-month high) as turnover hit Rs.4.4bn, led by the banking sector which contributed 36% of turnover. HNB, Sampath, NDB, LOLC, Browns and MELS were top contributors while JKH fell modestly and foreigners were net sellers of Rs.12.2m.

Colombo Stock Exchange closed higher: ASPI +0.74% to 12,610 and S&P SL20 +0.84% to 3,790, with turnover Rs4.4bn; Hatton National Bank accounted for Rs926m of turnover and there was a net foreign outflow of Rs12.21m.

ASPI rose 7.4% for the week, closing yesterday at 11,774 (up 102) as investor confidence returned amid declining government security yields. Capital goods and banks led turnover with Access Engineering, John Keells, Aitken Spence and HNB among top contributors; MGT gained 4.9% while Sampath dipped slightly.

Colombo Stock Exchange closed higher: All Share Index up 0.87% to 11,773 and S&P SL20 up 0.76% to 3,409, with turnover of 2.9 billion and net foreign inflow of 69 million rupees. Banking stocks led gains (HNB, Commercial Bank, DFCC, NDB) while some crossings and active foreign flows hit multiple counters.

The Cabinet Appointed Procurement Committee has called for bids to complete the Bandaranaike International Airport Development Project Phase II Stage 2 (Package 'A1') covering the Main Terminal Building and piers, with bids due 24 December 2024 and a Rs.4 billion bid security. The 30-month project is funded by a JICA loan and the Cabinet previously approved awarding the main terminal contract to Access Engineering PLC.

Colombo ASPI jumped 237.31 points (2.14%) — the largest daily gain in 2024 — on turnover of Rs.2 billion as banks and capital goods led gains; CCS rose 10.2% and Commercial Bank, HNB, Sampath, John Keells, Melstacorp, LOLC and Access Engineering were among top contributors.

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.

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.

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 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.