Sri Lanka stocks extended their upward momentum on Thursday, supported by strong performances in the financial sector. Investors showed renewed interest in bank and finance shares, boosting market confidence.
Sri Lanka stocks continue upward trend led by banks and financial shares.
Sri Lanka stocks maintained a positive trajectory as the Colombo Stock Exchange All Share Price Index (ASPI) rose 0.86 percent on Thursday, climbing 182.61 points to end at 21,521.06. The more liquid S&P SL20 index also advanced 0.47 percent, or 28.74 points, closing at 6,109.80. Market analysts attribute the gains to continued interest in banking and financial sector shares, reflecting a resilient market sentiment.
Top contributors to the ASPI included Sampath Bank, which rose 4.25 rupees to 146.25, Ceylon Tobacco Company up 73.25 rupees at 1,672.25, Central Finance Company increasing 14.50 rupees to 303.50, Senkadagala Finance climbing 108.25 rupees to 699.00, and Distilleries Company advancing 8.70 rupees to 55.90. Thursday’s market turnover totaled 9.3 billion rupees, with a share volume of 261,287,633.
This week, the Securities and Exchange Commission (SEC) of Sri Lanka unveiled its 12-step capital market reform agenda, including plans for the demutualisation of the Colombo Stock Exchange, signaling potential long-term growth for investors.
Elsewhere in the region, equity markets displayed mixed trends. Indian markets faced continued pressure, with IT stocks affected by persistent foreign outflows due to changes in the U.S. H-1B visa policy. The Nifty 50 index fell 0.66 percent to 24,890.85, while the BSE Sensex dropped 0.68 percent to 81,159.68. In contrast, Pakistan’s KSE 100 index rose 0.66 percent to 159,280.09, and Tokyo’s Nikkei 225 hit a record high at 45,754.93, driven by exporter shares benefiting from a weaker yen.
Commodities also showed modest movement, with spot gold trading at 3,763.67 US dollars, up 2.38 US dollars as of 4.20 pm Sri Lankan time, reflecting cautious investor sentiment amid global market fluctuations.