News & market updates

The ASPI fell 1.4% to a six-month low of 10,720 and the S&P SL20 declined 1.7% as election uncertainty weighed on the market. Banking counters and heavyweights including Commercial Bank, HNB, Sampath, John Keells and Hayleys led losses while foreigners were net sellers.

John Keells Logistics (a fully owned subsidiary of John Keells Holdings PLC) has been appointed exclusive logistics partner to Brillion Consumer Products Lanka for the relaunch of the Baygon brand in Sri Lanka. JKLL will manage warehouse and supply-chain operations leveraging its systems and nearly 20 years’ experience.

Colombo Stock Exchange fell as the All Share Index dropped 1.38% to 10,719 and the S&P SL20 fell 1.69% to 3,006 on turnover of 615 million, with election-month political uncertainty weighing on sentiment.

ASPI fell 4.7% and the S&P SL20 lost 6.3% last week amid election-related bearishness, with banking and blue-chip counters (HNB, JKH, CTC, RICH, VFIN) dragging the market; Renuka Agri Foods saw a large off-board block and price rise.

Colombo bourse slipped with the S&P SL20 down 0.83% and ASPI down 0.35% on turnover of Rs.1.03bn as political uncertainty and net foreign selling weighed on sentiment. Banking and blue-chip counters (notably Sampath, Commercial Bank, John Keells and Melstacorp) were main drags while Teejay Lanka and Hayleys saw notable activity.

Colombo Stock Exchange fell, with the All Share Index down 0.36% to 10,869 and the S&P SL20 down 0.38% to 3,058. Turnover was 759 million; top turnover/price moves included Renuka Agri Foods and Sampath Bank (up), HNB, John Keells and Commercial Bank (down), with a net foreign inflow of 0.37 million.

Cabinet approved transfer of servitude and service rights over a 60.5-perch parcel to benefit buyers of John Keells Holdings' Waterfront Properties condominium project. The BOI had granted 3.03 acres on a 99-year lease for the mixed tourism-focused development; three of six towers (425 units) are complete and three are under construction.

Colombo market slipped for a seventh straight session as ASPI fell below 11,000 to close at 10,946 (-1.33%) and S&P SL20 lost 1.68%, with turnover Rs. 732.49mn. Commercial Bank, Sampath Bank, Melstacorp, Ceylon Tobacco, Browns Investments and John Keells were among the top negative contributors.

Colombo market slid as the S&P SL20 fell 1.26% and the ASPI dropped 0.95% on turnover of Rs.513.6m, led by losses in banks and blue chips including John Keells, Melstacorp, Central Finance, Commercial Bank and Ceylon Cold Stores.

John Keells Properties (part of John Keells Holdings) broke ground on the VIMAN Ja-Ela residential project on Aug 26, 2024; the development will total 418 apartments and has already sold 70% of units across Phases 1–2. Phase 1 was almost sold out within six months and the project features solar-powered homes, amenities and partnered mortgage packages.

John Keells Holdings PLC's OCTAVE signed an MoU with the University of Colombo on 15 August 2024 to collaborate on data science, machine learning and data engineering education, offering curriculum support, guest lectures, internships and potential joint R&D.

Race Across Sri Lanka concluded on 24–25 Aug with 50 cyclists completing a 333 km Colombo-to-Arugam Bay route that showcased Ella and Arugam Bay as tourist destinations. The event included international riders and named John Keells CG Auto Ltd as Green Auto Partner.

ASPI fell 162.1 points (-1.43%) to 11,200 and the S&P SL20 dropped 2.0%, led by declines in banks and frontline counters including HNB, COMB, LOLC, JKH and SAMP; turnover was Rs. 554.3m and foreigners were net buyers of about Rs. 49m.

Colombo market fell for the week as the ASPI lost 1.2% and the S&P SL20 lost 1.4% amid election concerns; notable declines included PABC (-11.4%), HAYL (-3.8%), JKH (-2.6%), CCS (-2.5%) and NDB (-2.2%).

Colombo stocks slipped as the S&P SL20 fell 0.4% and the ASPI 0.2%, with turnover rising to Rs. 798 million aided by crossings. Banking counters (Commercial Bank, HNB, Sampath) and blue chips (JKH, CTC) led losses while Kelani Tyres gained and foreign investors were net buyers (+Rs.15.6m).

Colombo Stock Exchange closed down: All Share Index fell 0.21% to 11,458 and S&P SL20 fell 0.43% to 3,288; turnover was 797 million with a net foreign inflow of 15.5 million. Top foreign buying included Melstacorp and John Keells, while foreign selling hit Commercial Bank, Ceylon Cold Stores, Associated Motor Finance and Talawakelle; top turnover contributors were Commercial Bank, Dialog, Kelani Tyres, HNB and John Keells.

Reliance Consumer Products CEO T. Krishnakumar said Sri Lanka is well positioned to benefit from India’s strong growth and urged Sri Lankan firms to tap the Indian market, citing Reliance partnerships to make and sell Maliban and Ceylon Cold Stores products in India.

Colombo bourse closed mixed: ASPI fell about 12 points to 11,482 while the S&P SL20 gained 2.6 points on turnover of Rs. 547 million, led by Sampath Bank (Rs.112m); banking stocks dominated turnover (32%) while front-line counters showed mixed performance.

John Keells Holdings (JKH.N0000) said it has completed the termination and delisting of its Global Depositary Receipts (GDR) programme from the Luxembourg Stock Exchange. The company said the move follows a relatively low number of GDRs in issue that did not materially facilitate trading in its securities.

Colombo market opened lower with the ASPI closing at 11,495, down 9 points, on turnover of Rs.580.5m; capital goods led turnover (38%) while banking and blue-chip counters put pressure on the index.

Colombo Stock Exchange closed lower as All Share Index fell 0.08% to 11,494 and S&P SL20 fell 0.02% to 3,300, with differing informal election polls weighing on sentiment. Turnover was 580 million with net foreign inflow of 47.8 million; crossings included JKH, TJL and MELS, and Lanka Aluminium declared a Rs1 dividend.

John Keells Group opened a BYD showroom and NEV-focused service centre in Colombo and launched the plug-in hybrid BYD SEALION 6 DM-i in Sri Lanka. The facility includes BYD-trained engineers, HV repair tools, a 30kW fast charger and battery testing equipment.

The Colombo bourse's five-day winning streak ended with a 0.2% drop on Friday, but the week closed with the S&P SL20 up 2.4% and the ASPI up 1.8% and average daily turnover of Rs. 740m. Top negative contributors were C T Holdings, John Keells, DFCC, Central Finance and Lanka IOC, while Access Engineering, Renuka and Melstacorp gained.

Colombo Bourse rose for a fifth straight session as the ASPI gained 1% to close at 11,531 (S&P SL20 +1.3%), with banking and food & beverage stocks led by HNB, SAMP, DFCC, MELS and LMF driving the rally amid Rs.776m turnover.

Colombo Stock Exchange closed higher—ASPI +1.03% and S&P SL20 +1.31%—with banking stocks drawing interest after positive interim results; Hatton National Bank posted a LKR 15.4 billion profit after tax for the six months to June 2024.

John Keells CG Auto (John Keells Group) opened a BYD showroom and NEV-focused service centre in Colombo and launched the Plug-in Hybrid BYD SEALION 6 DM‑i. The centre includes BYD diagnostic and battery-testing tools, HV-trained engineers and a 30kW fast charger.

John Keells Holdings (JKH.N0000) has partnered with Nepal’s CG Corp to sell BYD electric vehicles in Sri Lanka and opened a BYD showroom. JKH plans about 50 charging centres at Keells Super outlets and its hotels over the next 6–12 months, with imports due when controls are lifted.

Colombo Stock Exchange closed higher: All Share Index up 0.58% at 11,413 and S&P SL20 up 1.05% at 3,278, with turnover of 1.3 billion. Banks drew interest after positive interim results — Hatton National Bank posted a six-month PAT of 15.4 billion; John Keells saw 144 million in foreign buying while Hayleys faced foreign selling.

Colombo market improved as the ASPI rose 35 pts to 11,347 and turnover jumped to Rs.648.6m (up 92%), led by Capital Goods; key contributors included JKH, CTC, RCL and others, while there was a net foreign outflow of Rs.23m.