Sri Lanka stocks ended Thursday’s trading session slightly higher as the benchmark All Share Price Index inched past its previous peak, reflecting cautious investor confidence despite mixed performances among blue-chip counters.
Sri Lanka stocks close marginally up with ASPI setting fresh record
Sri Lanka stocks closed marginally higher on Thursday, with the Colombo Stock Exchange recording a fresh milestone as the All Share Price Index edged above the historic high reached in the previous session. Market data showed modest gains overall, underlining a cautious but steady tone in investor sentiment.
The All Share Price Index rose 0.03 percent, gaining 7.45 points to close at 23,813. The advance narrowly surpassed Wednesday’s record closing level of 23,806.32, marking another high point for the broader market index. In contrast, the more liquid S&P SL20 index slipped 0.02 percent, or 1.47 points, to close at 6,617, slightly below its prior session peak of 6,619.32.
Market participants said the subdued movement reflected selective buying interest rather than broad-based momentum. While the headline index benefited from gains in several heavyweight counters, selling pressure in a few previously active stocks limited overall upside.
Turnover for the session stood at 8.32 billion rupees, indicating healthy trading activity even as investors appeared measured in their positioning. Analysts noted that liquidity levels remain supportive, with institutional and retail participation continuing to underpin market depth.
Among the top positive contributors to the ASPI were Hatton National Bank, which gained 8.75 rupees to close at 432, and DFCC Bank, which added 3.25 rupees to finish at 160.25. United Motors also provided a notable boost, rising 40.90 rupees during the session, reinforcing the index’s upward bias.
On the downside, Hayleys and Colombo Dockyard emerged as the largest negative contributors. Hayleys fell 15.75 rupees to close at 234, while Dockyard declined 6.25 rupees to 136. Both stocks had seen price increases in the previous session amid market speculation, and Thursday’s pullback suggested profit-taking by investors.
Hayleys later announced a dividend of six rupees per share along with a three-for-fifty rights issue, details that were disclosed after market hours on Wednesday. Market observers said the share price adjustment was not unexpected, as investors reassessed valuations following the announcement.
Renuka Holdings drew attention after the company disclosed that Almas Holdings (Private) Limited had sold a 24.78 percent stake of its issued ordinary non-voting shares. Following the announcement, both classes of Renuka Holdings shares closed higher. The voting shares gained 3.90 rupees to end at 61.90, while the non-voting shares rose 1.20 rupees to close at 44.70, indicating a positive market response to the transaction.
Beyond trading activity, the Colombo Stock Exchange also made an announcement reflecting its broader engagement with national recovery efforts. The exchange said it had donated 25 million rupees to support the government’s Rebuilding Sri Lanka Fund, which is focused on post-cyclone Ditwah reconstruction initiatives. The contribution was described as part of the CSE’s commitment to supporting economic recovery and community resilience.
Market analysts said the marginal rise in Sri Lanka stocks, coupled with record index levels, signals sustained confidence in the equity market despite global uncertainties and domestic economic adjustments. However, they cautioned that near-term movements may remain uneven as investors continue to rotate between sectors and respond to corporate-specific developments.
As the market trades near record territory, attention is expected to remain on earnings performance, corporate actions, and macroeconomic signals that could influence valuations. For now, the ability of the ASPI to hold above its previous highs is seen as an encouraging sign for market sentiment, even as gains remain measured rather than exuberant.