News & market updates

Colombo bourse hit record highs as ASPI rose 197 points (1%) to 17,025, led by banking stocks with Hatton National Bank up to Rs. 360.50 amid share-split rumours. Turnover was Rs. 9.78bn, banking and consumer stocks dominated activity and foreign investors were net sellers of Rs. 565.6m.

Colombo Stock Exchange rose with the ASPI up 1.31% (224.01 pts to 16,597.16) and S&P SL20 up 1.72% (85.42 pts to 5,047.45), driven by banking stocks and strong retail turnover. Top turnover generators included Commercial Bank, HNB, DFCC, NDB and Sampath Bank, with a net foreign outflow of Rs 279 million.

Colombo bourse ended the week higher (ASPI +2.1% for the week; ASPI +0.26 yesterday, S&P SL20 +0.28) with turnover yesterday at Rs.5.4bn and a net foreign outflow of Rs.221.5m. Banking and capital-goods/construction stocks led turnover, with top contributors including Dialog, DFCC, Dipped Products, Hemas and Commercial Bank.

ASPI closed up 0.26% at 16,257.31 as the Colombo bourse ended higher despite a net foreign outflow of 221 million rupees. Banks and consumer names drew interest; top foreign selling hit John Keells while DFCC, Dipped Products, Hemas and Commercial Bank were among top contributors.

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Third Interim dividend of LKR 0.35/share; XD 2025-01-10; record 2025-01-14; payable 2025-01-24; FY 2024/25

Colombo Stock Market closed mixed: ASPI +40 pts (+0.27%) while S&P SL20 -14 pts (-0.3%), with turnover Rs.5.85bn on 357m shares and a net foreign outflow of Rs.1.5m. Top contributors included Ceylon Cold Stores, PGP Glass, John Keells, Lanka IOC, Dipped Products and Lanka Milk Foods, with Food, Beverage & Tobacco leading turnover.

Colombo market closed with the ASPI up 0.27% at 14,654.26 while the S&P SL20 fell 0.32% to 4,390.12 as profit-taking in banking stocks weighed on the SL20. Top gainers included Ceylon Cold Stores, PGP Glass, John Keells, Dipped Products and Lanka IOC; net foreign outflow was Rs 1.4 million.

Dipped Products PLC appointed Anomi Wanigasekera as an Independent Non-Executive Director and member of its Audit Committee and Related Party Transactions Review Committee. Wanigasekera is a partner at Julius & Creasy with over 40 years' experience and sits on the boards of Haycarb PLC and Hayleys Leisure PLC.

Colombo market rose as the ASPI gained 0.84% (111 pts) to 13,340 with turnover of Rs.3.22bn and foreign net buying of Rs.85.3m. Top contributors included LOLC, CFIN, RCL, HNB and DIPD, while Agarapatana (+0.20 to Rs.9) and ACL Cables (+2.70 to Rs.98.50) saw notable activity.

Colombo Stock Exchange closed up as ASPI rose 0.84% to 13,355, led by the food, beverage and tobacco sector (Rs783mn turnover). Top turnover movers included Agarapatana, Dipped Products, Central Finance, ACL Cables and CIC; Sunshine Holdings (amalgamation announced) also closed higher.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

Bank-led rally lifted the ASPI 0.66% as the banking sector drove 63% of turnover with top contributors including Sampath Bank, Hatton National Bank, Richard Pieris, Dipped Products and DFCC. Turnover was Rs.3.6bn and there was a net foreign outflow of Rs.119.7m.

Colombo Stock Exchange closed higher, ASPI +0.66% to 13,049 and S&P SL20 +0.85% to 3,876, led by banking stocks with Rs2.2bn of turnover. Top contributors included Sampath, HNB, Commercial Bank, DFCC and Dipped Products; NDB's Rs5bn debenture was oversubscribed and Softlogic Life declared a Rs4.5 cash dividend; net foreign inflow was Rs95mn.

Dipped Products PLC acquired 100% of Hi-Care Thai Gloves Company Ltd in Thailand for $11 million, with the SSPA completed on 21 November 2024. Hi-Care has a production capacity of 1 billion gloves p.a., and the deal will be held via Dipped Products (Thailand), a wholly-owned subsidiary.

The Colombo market ended the post-election week with ASPI down 1.1% for the week (S&P SL20 down 2.7%) but closed yesterday up 0.56% on below-average turnover of Rs.1.9bn. Banking stocks led turnover (Seylan, Pan Asia, Sampath, HNB) while BREW, COMB, CINS, SEYB and DIPD were top positive contributors and JKH dipped.

Dipped Products Plc has acquired 100% of Hi Care Thai Gloves Company Ltd in Thailand for USD 11 million (THB 370 million) through its wholly-owned Dipped Products (Thailand) Ltd. The deal expands the company's rubber glove manufacturing footprint and follows due diligence; shares were trading up at LKR 41.80.

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 rose as the ASPI gained 0.56% (72.17 pts) to 13,054, led by bank activity which accounted for Rs736mn of turnover. Investors cited profit-taking after bank gains linked to ISB debt-restructure reports and Fitch noted banks' profiles would improve after a successful sovereign restructure.

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.

Sujeewa Rajapakse will resign from the board of Dipped Products Plc, stepping down as audit committee chairman on Nov 12 and as independent non-executive director on Nov 30. Pathiranage Yohan Srineth Perera will replace him as audit committee chair; Dipped Products is a subsidiary of Hayleys PLC and its stock was trading at 41.40.

The Institute of Supply and Materials Management held National Supply Chain Day on 24 Oct 2024 in Colombo, hosting an international seminar and awards attended by ~400 participants. The event featured CEOs from Dialog and Singer, and listed firms including Hayleys, Lion Brewery, Dipped Products, CIC, Alumex, DIMO and Haycarb were among nominees.

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.

Colombo Stock Exchange ASPI rose 0.57% to 12,800 on Friday with turnover Rs2 billion and net foreign inflows of Rs199 million. Top turnover generators included Royal Ceramics, Dipped Products, Lanka Milk Foods, John Keells and Sampath Bank; banking stocks showed mixed moves.

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.

Colombo Stock Exchange closed mixed with the ASPI up 0.07% to 12,727 and the S&P SL20 down 0.02% to 3,823. Top gainers included John Keells, Melstacorp, Dipped Products, Hemas and LOLC, while banking stocks fell (HNB, Sampath, DFCC, NDB down; Commercial Bank up) with a net foreign inflow of Rs45mn.

Colombo Stock Exchange closed down: the ASPI fell 0.60% to 12,719 on turnover of Rs3.1 billion. John Keells contributed Rs1.2bn to turnover; most banks (HNB, COMB, SAMP, NDB, DFCC) were down while Dilmah Ceylon Tea, Co-operative Insurance, Singer and Vallibel One were among top gainers.