The Colombo Stock Exchange closed weaker on June 24 as selling pressure in key large-cap counters pushed both indices lower, while market turnover fell 55% below the monthly average for the second consecutive session.
Key Highlights
- ASPI closed at 22,208.58, down 47.91 points (-0.22%)
- S&P SL20 declined 12.00 points to 6,181.65 (-0.19%)
- Market turnover reached LKR 1,195.10 million, 55.1% below the monthly average
- Foreign investors posted a net outflow of LKR 130.65 million
- MTD net foreign outflow extended to LKR 1,145.4 million
- PDMO raised full LKR 70 billion at T-Bill auction with bids of LKR 130.5 billion
- T-Bill yields rose across all three tenors at auction
- Banking system excess liquidity contracted to LKR 61.04 billion from LKR 64.26 billion
- USD/LKR moved to 334.77 from 334.54
Stock Market Summary
The Colombo Stock Exchange closed lower on June 24, 2026, with both headline indices retreating as selling pressure in selected blue-chip counters weighed on the broader market. The All Share Price Index fell 47.91 points to close at 22,208.58, while the S&P SL20 shed 12.00 points to finish at 6,181.65.
The main negative contributors to the ASPI during the session were SAMP, JKH, LOLC, GRAN and RICH, reflecting broad-based weakness across banking, diversified and consumer-facing large caps.
Market turnover for the day stood at LKR 1,195.10 million, equivalent to USD 3.57 million, marking a 55.1% decline from the monthly average of LKR 2.7 billion. This is the second consecutive session where turnover has fallen more than 40% below the monthly average, pointing to a sustained pullback in participation across both high-net-worth and retail investor segments. Volume for the session was 48.45 million shares, down 25.6% from the prior day.
The Capital Goods sector led daily turnover with a 16% share. The Telecommunication and Materials sectors collectively contributed a further 32% of total activity. Top turnover contributors included DIAL at 16%, BOGA at 10%, LFIN and SPEN at 5% each, and HAYC at 3%.
Among individual counters, SLND was the top gainer at 16%, followed by BOGA at 13% and TESS.X at 7%. MASK rose 6% and AAF.P gained 5%. On the downside, LGIL and TESS each fell 5%, while BERU, AFS and MHDL declined 6%.
Foreign investors remained net sellers for the second consecutive session. Total foreign inflows amounted to LKR 29.09 million against outflows of LKR 159.74 million, producing a net outflow of LKR 130.65 million. DIAL accounted for LKR 114.8 million of that total, representing approximately 88% of the day’s net foreign selling. SPEN recorded the largest net foreign inflow at LKR 23.7 million. The month-to-date net foreign outflow now stands at LKR 1,145.4 million, while the year-to-date figure has reached LKR 33,600.9 million.
Market valuations held at a price-to-earnings ratio of 11.7x and a price-to-book value of 1.4x. Total market capitalization declined 0.2% to LKR 8,056.89 billion.
Fixed Income Summary
The PDMO conducted a Treasury Bill auction on June 24, raising the full offered amount of LKR 70.0 billion against total bids of LKR 130.5 billion, reflecting a bid-to-cover ratio of approximately 1.86 times. All three tenors were fully subscribed, with LKR 35.0 billion accepted at the 91-day tenor, LKR 25.0 billion at the 184-day tenor and LKR 10.0 billion at the 364-day tenor.
Weighted average yields rose across all three tenors. The 91-day bill settled at 10.14%, up 12 basis points from the previous auction. The 184-day bill rose 5 basis points to 10.21%, while the 364-day bill edged up 1 basis point to 10.17%. The rise in short-end yields at auction contrasts with continued softness in parts of the secondary bond market, where the 2-year and 3-year tenors each declined a further 10 basis points week-on-week to 10.70% and 10.85% respectively.
In the secondary bond market, trading was concentrated in the mid-to-belly segment of the yield curve. The 01.05.2028 and 15.10.2028 maturities traded at 10.60% and 10.65% respectively. Over the 2030 segment, the 01.08.2030 bond traded between 11.19% and 11.14%, while the 15.10.2030 maturity changed hands between 11.23% and 11.15%. Further out the curve, the 15.06.2034 bond traded in a range of 11.67% to 11.65%, and the 15.03.2035 maturity was dealt at 11.80%.
Banking system excess liquidity contracted modestly to LKR 61.04 billion from LKR 64.26 billion in the prior session, partially reversing the significant expansion recorded on June 23. Foreign holdings of government securities remained unchanged on a week-on-week basis. Total outstanding government securities stood at LKR 18,438.71 million.
A Treasury Bond auction is scheduled for June 26. The upcoming week ending July 3 carries a combined maturity of over LKR 108 billion across T-Bills and bond interest payments.
Currency Market Update
The Sri Lankan rupee weakened for the second consecutive session against the US dollar. The USD/LKR rate moved to 334.77 from 334.54 recorded in the prior session, representing a further modest depreciation of the rupee. The cumulative two-session move from 333.76 to 334.77 amounts to a depreciation of approximately 1.01 rupees against the dollar.
Business Impact
For importers, two consecutive sessions of rupee weakness add incremental pressure to landed costs on dollar-denominated goods. The move remains modest in absolute terms but the directional consistency is worth monitoring. Exporters benefit marginally from each session of rupee softening on repatriated earnings. The rise in T-Bill yields at the June 24 auction is a more immediate business-facing signal — short-term government paper yields are often used as a benchmark floor for working capital lending rates, and a 12 basis point jump at the 91-day tenor indicates that short-end pricing has shifted upward. Businesses with variable rate short-term facilities should factor this into cash flow planning. The sustained decline in market turnover over consecutive sessions suggests that domestic investor confidence remains cautious, with both high-net-worth and retail segments holding back from committing capital.
What to Watch Next
- Treasury Bond auction results scheduled for June 26, with Phase 2 outcomes pending
- Whether T-Bill yield increases at this auction feed through to short-term lending rate adjustments
- Foreign investor flow direction in the final sessions of June as MTD outflows approach LKR 1.2 billion
- USD/LKR trajectory following two consecutive sessions of rupee depreciation
- Market turnover recovery toward the monthly average of LKR 2.7 billion
- The LKR 108 billion maturity wall falling due in the week ending July 3 and how the market absorbs it
Key Numbers:
| Metric | Value |
|---|---|
| ASPI | 22,208.58 (-47.91 pts) |
| S&P SL20 | 6,181.65 (-12.00 pts) |
| Market Turnover | LKR 1,195.10 Mn |
| Market Volume | 48.45 Mn shares |
| Market Cap | LKR 8,056.89 Bn |
| PER | 11.7x |
| PBV | 1.4x |
| Net Foreign Flow | -LKR 130.65 Mn |
| MTD Foreign Flow | -LKR 1,145.4 Mn |
| YTD Foreign Flow | -LKR 33,600.9 Mn |
| T-Bill Offered | LKR 70.0 Bn |
| T-Bill Bids | LKR 130.5 Bn |
| 91-Day T-Bill Yield | 10.14% (+12 bps) |
| 184-Day T-Bill Yield | 10.21% (+5 bps) |
| 364-Day T-Bill Yield | 10.17% (+1 bp) |
| Excess Liquidity | LKR 61.04 Bn |
| USD/LKR | 334.77 |
Source Attribution:
Source: Colombo Stock Exchange market data, Central Bank of Sri Lanka statistics, Public Debt Management Office auction data and publicly available market information.