News & market updates

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 bourse rebounded as the S&P SL20 rose 1.3% and the ASPI gained 0.7% on Rs.1.1bn turnover. Banking led turnover (34%) with Sampath and Commercial Bank among top contributors, capital goods and retail sectors were active, and net foreign outflow was Rs.134m.

Colombo stock market ended the shortened General Election week higher, with ASPI up 3.1% and the S&P SL20 up 3.8% and average weekly turnover of Rs.4.37 billion. Banking counters (Sampath, Commercial Bank, DFCC, Nations Trust, Pan Asia) led gains and turnover, while Browns Investments and several hotels and finance stocks saw notable investor interest.

The newly appointed ICTA Board, chaired by Dr. Hans Wijayasuriya, held its inaugural meeting; members include Jiffry Zulfer (founder/CEO of Digital Mobility Solutions Lanka PLC) and executives with ties to Dialog Axiata PLC and Hemas Holdings.

Hemas Holdings said Sri Lanka's pharmaceutical industry recorded volume growth in the September quarter, the first since the 2022 crisis, driven by local manufacturers and lower-cost products such as diabetic drugs and vitamins.

Sri Lanka central bank bought US$189.5mn from forex markets in October 2024, up from US$96mn a month earlier. It also injected liquidity via open market operations and allowed exchange-rate appreciation, fueling deflation and stronger retail sales while raising warnings of policy risks.

Hemas Holdings reported Q3 revenue of Rs 28.9bn (down 3.1%) and net profit of Rs 1.5bn (up 23.7%), saying a stronger rupee and lower commodity prices prompted aggressive price cuts in consumer categories. Gross profit rose to Rs 9.1bn and finance costs fell 58% as interest rates eased.

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.

Hemas Holdings PLC reported six months to 30 Sep 2024 revenue of Rs.54.4 billion, operating profit of Rs.5.0 billion and earnings of Rs.2.5 billion, with improved margins despite lower revenue. Profitability was driven by efficiency measures, favourable FX, lower finance costs and stronger Consumer Brands, Healthcare and Mobility performance.

Hemas Holdings (Acting CEO Ravi Jayasekera) reported 1H FY25 net profit of Rs. 2.6 billion, up 7.8% YoY, and 2Q profit of Rs. 1.68 billion (up 24%) despite 1H revenue falling 7.7% to Rs. 54.3 billion. Management credited efficiency gains, favourable FX and lower finance costs from declining interest rates for margin improvement.

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.

Dividend · Rs 1.00 · XD Nov 18, 2024

First Interim dividend of LKR 1/share; XD 2024-11-18; record 2024-11-18; payable 2024-12-05; FY 2024/25 (Financial year ending 31.03.2025)

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 Stock Exchange closed down: ASPI fell 0.46% to 12,795 and the S&P SL20 fell 0.58% to 3,852 on turnover of Rs 2.3bn. Banking stocks were mixed — HNB, Commercial Bank and NDB fell while Sampath and DFCC rose; HNB trades contributed Rs 758m to turnover.

Colombo Stock Exchange ended the week in green: ASPI rose 0.35% to 12,517 and turnover was Rs4.7bn, with Sampath Bank and Hatton National Bank contributing over Rs1bn and Rs1.3bn respectively. Net foreign outflow was Rs186m and Lion Brewery announced a Rs17.3/share dividend.

Colombo market closed marginally higher as the ASPI rose 57 points to 12,357 on turnover of Rs.2.3bn and a net foreign inflow of Rs.118.1m. Banking-led buying (35% turnover) and gains in Commercial Bank, Sampath Bank, NDB and Central Finance drove the session, with Hayleys and Hemas also up.

Colombo Stock Exchange closed up: ASPI +0.47% to 12,357 and S&P SL20 +0.95% to 3,663, with turnover Rs 2.3bn. Top turnover stocks included John Keells (JKH 203.00), Sampath (84.00), Commercial Bank (110.25), Hayleys (103.00) and Hemas (81.00); net foreign inflow was Rs 118m.

Colombo Stock Exchange closed mixed: ASPI fell 0.03% to 12,309 while the S&P SL20 rose 0.05% to 3,624, with turnover of 1.4 billion and net foreign outflow of 109 million rupees. Top gainers included Sampath Bank, ACL Cables and Hemas; laggards included Hayleys, Central Finance, Royal Ceramics and Aitken Spence, and Lanka IOC reported a 50% drop in Sept quarter profit to 2,525 million rupees.

Colombo Stock Exchange rebounded as the ASPI rose 0.27% to 12,290 on turnover of about Rs.1.75 billion, driven by gains in hotel counters and select plantation and telecom stocks.

Colombo Stock Exchange closed higher: All Share Index +0.27% to 12,290 and S&P SL20 +0.17% to 3,613 on turnover of Rs 1.7 billion. Top movers included Dialog, Digital Mobility, Dipped Products, Maskeliya and Hemas, with net foreign outflow of Rs 317 million and mixed foreign buying/selling across counters.

Daraz Sri Lanka launched a Choice channel in partnership with AliExpress Choice, giving shoppers access to a curated selection of over 1 million products. The channel expands to include local FMCG from Hemas and global brands distributed by Hayleys, with free delivery and 14-day returns.

Daraz Sri Lanka has launched a new AliExpress Choice channel offering over 1 million curated products and expanded its assortment to include local FMCG from Hemas and brands distributed by Hayleys, with free delivery, 14-day returns and promotional deals.

Colombo Stock Exchange closed higher: ASPI rose 0.92% to 12,164 and S&P SL20 gained 1.34% to 3,590, led by banking stocks which accounted for Rs 1.4bn of turnover; top contributors included C T Holdings, Sampath Bank, John Keells and Commercial Bank.

Colombo Stock Exchange closed lower on Oct 3: All Share Index fell 0.04% to 11,929 and S&P SL20 dropped 0.75% to 3,483, with turnover of LKR 1.3 billion and a net foreign outflow of LKR 17 million.

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.

Colombo stocks rose ahead of the Presidential election as the ASPI gained 0.75% yesterday (up 2.7% WoW) and now shows a 2.93% YTD return, while the S&P SL20 rose 1.3% (4.1% WoW, 1.10% YTD). Banking stocks led the rally—Commercial Bank, Hatton National, NDB and Sampath were key movers—and turnover was driven by HNB, COMB and SAMP; foreigners were net sellers of Rs.12.1m.

Colombo Stock Exchange closed higher: All Share Index +0.54% to 10,884 and S&P SL20 +0.81% to 3,061, led by bank stocks which generated Rs5,514mn of turnover. Total turnover was Rs1.2bn with a net foreign outflow of Rs38.96mn; top turnover names included HNB, Commercial Bank, Sampath and Nations Trust.

Hemas Holdings PLC has launched a joint venture with SLIIT to create the SLIIT-HEMAS Allied Health Sciences Institute (SHAHSI), opening for intake in October with over 300 students and offering nursing and allied health programs, scholarships and guaranteed employment.

ASPI fell 0.3% to close at 10,801 as turnover was Rs.1.5 billion; indices reversed gains after a short-lived rebound. Melstacorp, Hemas, DFCC, LOLC and John Keells were among the top negative contributors while Hatton National Bank gained and Commercial Bank was flat.

Colombo Stock Exchange closed lower, with the All Share Index down 0.33% to 10,801 and the S&P SL20 down 0.32% to 3,035 on turnover of 1.4 billion. Top turnover names included Hemas, John Keells and Commercial Bank, there was net foreign inflow of 11.39 million amid continued selling pressure.