Colombo stocks closed up 0.54 percent on Monday, driven by strength in financials and select blue-chips as the ASPI gained 123.47 points to finish at 22,928.31, according to CSE data.
Colombo stocks advance as banks and finance firms lead the ASPI; regional markets closed higher
Colombo stocks ended the trading session higher on Monday with the All Share Price Index (ASPI) rising 123.47 points to 22,928.31, while the more liquid S&P SL20 advanced 0.62 percent to 6,252.40. Market breadth was supported by notable gains in the financial and consumer sectors, with Senkadagala Finance Company and Commercial Bank among the top contributors. Senkadagala Finance climbed sharply to 849.00 rupees and Commercial Bank added 2.25 rupees to close at 207.25. Other movers included Bukit Darah, John Keells Holdings and Dialog Axiata, which together helped lift overall market sentiment.
Turnover edged up marginally to 5.7 billion rupees on a share volume of 158,115,382, reflecting steady domestic participation as investors rotated into financials and select large-caps. Traders said the session was characterised by measured buying interest in banking and finance names, which investors view as beneficiaries of an improving earnings outlook and resilient domestic credit demand.
Regional markets closed positively on the same day, reinforcing the upbeat tone across Asian equities. South Korea’s Kospi posted a strong gain and set another record close, while Hong Kong’s Hang Seng and China’s Shanghai Composite also finished higher. Major South Asian markets were upbeat as well, with Pakistan’s KSE-100 and India’s key indices registering modest gains. The positive regional backdrop, together with local buying momentum, helped sustain the rise in Colombo stocks through the afternoon session.
Commodities showed mixed movement by late afternoon local time, with spot gold quoted around US$4,013.70 per ounce as at 3:30 pm Sri Lankan time, reflecting modest gains. Market watchers noted that short-term catalysts for the Colombo market will include forthcoming corporate results, any new macroeconomic data, and spillovers from global risk sentiment. For now, the session’s advance underscores cautious confidence among investors who favored financial names while keeping an eye on liquidity and macro indicators.