News & market updates

Colombo bourse rose with the ASPI up 0.9% (115 pts) and turnover jumping to Rs.5.1bn, boosted by crossings and heavy banking-sector activity. Top contributors included Sampath Bank, Commercial Bank, John Keells, Hemas and NDB, with a net foreign outflow of Rs.246.3m.

Race the Pearl, a 600km ultra-endurance cycling race and RAAM qualifier, returns on 7 December 2024 across Sri Lanka and is expected to boost tourism and spending for hotels and local tourism businesses.

The Government has requested detailed reports from the Finance and Foreign Ministries on Adani Group projects in Sri Lanka after US bribery indictments; Adani has a port terminal venture with John Keells Holdings, which may face scrutiny.

John Keells Holdings and Union Bank launched the ZERO-DOWN plan for VIMAN Ja-Ela: Union Bank will provide 75% upfront as a milestone-disbursed home loan with customers paying monthly installments and the remaining 25% equity to John Keells Properties at project completion in ~two years.

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.

Sri Lanka has called for reports into Adani projects on the island that include a joint venture with John Keells Holdings (JKH.N0000), as the Finance and Foreign Ministries probe bribery allegations; no decision has been taken yet.

Colombo Stock Exchange ASPI rose 0.76% to 12,964 and S&P SL20 rose 1.51% to 3,852, with turnover Rs1.1bn. Banking (Rs383mn) and capital goods (Rs312mn) led activity; top gainers included John Keells Holdings, Hatton National Bank, Commercial Bank, Sampath Bank and Ceylon Tobacco.

Colombo bourse opened lower as the ASPI fell 1.4% to 12,867 and the S&P SL20 dropped 1.9%; turnover was Rs.2.1 billion and foreign investors were net sellers of Rs.143 million.

Sri Lanka Ports Authority expects Rs.85 billion revenue and Rs.19 billion PAT for 2024, citing strong operational growth (domestic +23.6%, transhipment +15.5%, total +17.7%) and warning dollar earnings are sensitive to currency volatility. SLPA said CICT and SAGT drove revenue and CWIT (with Adani and John Keells Group) should finish phase 1 by Feb 2025.

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.

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.

Jetstar Asia has launched direct Singapore–Colombo flights with five weekly return A320 services, offering over 90,000 low-fare seats a year. The new route is expected to boost inbound tourism and benefit Sri Lankan hospitality firms and partners such as Hayleys.

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.

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.

Colombo market slipped on profit-taking: ASPI fell 0.95% (126 pts) and S&P SL20 fell 1.6% on turnover of Rs.6bn. John Keells, Hatton National and Sampath were major decliners while SERV and MARA saw investor interest; foreigners were net sellers of Rs.772.5m.

Union Assurance (UAL.N0000) signed a Memorandum of Understanding with the University of Sri Jayewardenepura to provide training programmes and internship opportunities for undergraduates, aligning academic programmes with industry needs.

Colombo market showed a muted response to the NPP landslide, with the ASPI up 0.2% and the S&P SL20 up 0.08% on turnover of Rs.5.5bn; the banking sector led turnover while foreign investors were net sellers of Rs.761.2m.

Colombo market extended its pre-election rally as the ASPI gained 136 pts to 13,125 and the S&P SL20 neared 4,000 on turnover of Rs.7bn. Banking stocks led the advance (Sampath, DFCC, NDB, NTB, JKH, LOLC, MELS, CTHR among contributors) and several firms (ASIY, GRAN, TAFL, GLAS) announced interim dividends.

Union Bank reported a 22% rise in loans and advances to LKR 75,744m for the nine months to 30 Sep 2024, with deposits up 9% to LKR 96,328m and profit after tax of LKR 117m. The bank relaunched leasing and pawning, signed an MoU with John Keells CG Auto to introduce BYD EVs, and received PCI DSS and ISO 27001 certifications.

Colombo's ASPI briefly touched 13,000 while turnover rose to Rs. 4.3 billion as markets rallied ahead of parliamentary elections. The banking sector led turnover and counters such as John Keells, Richard Pieris, C T Holdings, Bukit Darah and DFCC were among top contributors.

Colombo Stock Exchange rose with the ASPI up 0.88% (113.67 pts) to 12,988 and the S&P SL20 up 0.85% to 3,887. Top contributors included John Keells, C T Holdings, Bukit Darah and DFCC while Dialog Axiata was weaker; net foreign inflow was LKR 25 million and interest rose in non-bank/diversified financials ahead of a possible lifting of the vehicle import ban.

ASPI rose 0.6% to 12,875 (a multi-week high) as banking and blue-chip stocks led gains; turnover was Rs.2.4bn and foreign investors were net sellers of Rs.23.3m.

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.

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.

Sri Lanka unveiled a sustainability-focused tourism strategy at WTM 2024, noting a 46% year-over-year rise in UK arrivals. SriLankan Airlines and hospitality partners committed to expanding direct flights and promotional activity to further boost UK visitor growth.

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.

Gem Sri Lanka 2025 will run 7–10 January at Cinnamon Bentota Beach to connect international buyers with Sri Lankan gem traders and boost the gem and tourism sectors. Organisers also unveiled the GSLFAIR app to streamline buyer-seller connections.