The market capitalization of the Colombo Stock Exchange (CSE) has seen a decrease of 3.4%, bringing it down to Rs. 4,382 billion as of the end of September 2024, according to data from the Finance Ministry. This decline coincided with the exit of seven listed companies from the stock exchange during the same period.
The Mid-Year Fiscal Report by the Treasury indicates that Sri Lanka’s stock market has demonstrated mixed performance throughout 2024. The All Share Price Index (ASPI), which uses 1985 as a base year, recorded an increase of 4.6%, reaching 11,855 points at the end of September, compared to 11,336 points at the same time last year.
Despite the overall decline in market capitalization, which fell from Rs. 4,537 billion at the end of September 2023, the number of listed companies decreased from 291 to 284. The delisting of Expolanka, the company with the highest market capitalization, significantly contributed to this reduction. Other notable delistings included Indo-Malay PLC, Good Hope PLC, Selinsing PLC, Shalimar (Malay) PLC, Nestle Lanka PLC, and Multi Finance PLC.
In contrast, the Standard and Poor’s Sri Lanka 20 (S&P SL20) index, representing the most liquid stocks, increased by 8%, closing at 3,453 points by the end of September 2024, up from 3,198 points a year earlier. Additionally, the main index saw a rise of 11.9%, and the S&P SL20 climbed by 14.3% since the end of 2023.
September proved to be a strong month for trading activity, with the CSE reporting a substantial increase in average daily turnover, which surged by 111.3% to Rs. 2,946 million compared to Rs. 1,394 million in the same period of 2023. However, the CSE also recorded net foreign sales amounting to Rs. 6.4 billion during the first nine months of the year.