The Colombo Stock Exchange (CSE) surged on Tuesday following the transfer of a 10% stake in Hatton National Bank (HNB), delivering one of the highest trading turnovers in recent years and lifting key indices across the board.
The All Share Price Index (ASPI) climbed 161.39 points, or 0.98%, to close at 16,657.63. Meanwhile, the more liquid S&P SL20 index advanced 1.45%, gaining 70.13 points to end the day at 4,909.07. Market turnover soared to Rs. 18.7 billion, with the HNB deal alone contributing Rs. 14.4 billion. HNB shares rose Rs. 17.25 to close at Rs. 319.50, following the high-profile stake transfer. This marks the highest turnover since June 29, 2021, when the market recorded a Rs. 24 billion session.
Other notable movements in the market included Melstacorp, which gained Rs. 2.25 to end at Rs. 147.25, and C T Holdings, which traded Rs. 14.75 higher at Rs. 435.00. Cargills (Ceylon) closed Rs. 18.00 up at Rs. 563.00, while Commercial Bank slipped Rs. 1.25 to end at Rs. 143.50.
Export-related counters posted modest gains. Hayleys Fabric closed Rs. 0.20 higher at Rs. 42.00, Teejay Lanka rose Rs. 1.80 to finish at Rs. 47.80, and Hayleys gained Rs. 1.50 to close at Rs. 147.25. Share volume increased significantly to 249.8 million shares, up from 171.8 million on the previous trading day.
Global Market Overview
Moscow stocks tumbled as U.S. President Donald Trump threatened new sanctions in response to Russia’s attacks on Ukraine. The Moscow Exchange Index was trading at 2,727.65 by mid-day.
Vietnamese stocks performed well, with the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rising 0.55%, or 7.3 points, to close at 1,339.81, driven by small- and mid-cap stocks.
In Asia, Japan’s Nikkei 225 closed 1.00% higher at 37,531.53. India’s Nifty 50 was down 0.65% at 24,837.70, while the BSE Sensex ended the session up 0.72% at 81,584.94.
In Europe, shares of Chinese electric vehicle maker BYD fell sharply after the company slashed prices on several models, raising fears of a renewed price war in China’s EV sector.