Sri Lanka stocks rose as the Colombo Stock Exchange closed higher, led by banks and finance firms. Market turnover jumped, reflecting renewed investor optimism.
Sri Lanka stocks close higher as NDB, Seylan and finance firms drive bullish sentiment
Bullish sentiment dominated the Colombo Stock Exchange as Sri Lanka stocks extended their upward momentum. The All Share Price Index (ASPI) rose 0.66 percent, adding 149.82 points to close at 22,783.62, while the S&P SL20 gained 0.47 percent to end at 6,292.27. Total market turnover reached 7.42 billion rupees, reflecting strong investor activity across financial counters.
Market analysts said the rally was led by buying interest in second-tier banks and finance companies. Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC, noted that the upward trend continued with significant demand seen in finance sector stocks, particularly banks like NDB and Seylan, driven by valuations and investor optimism.
Among the top contributors to the ASPI were Central Finance Company, Co-operative Insurance Company, Harischandra Mills, DFCC Bank, and WindForce. Seylan Bank’s voting shares climbed 1 rupee to close at 110, contributing 1.76 billion rupees in turnover, while its non-voting stock rose 1.90 rupees to 80.90.
Analysts suggest that the positive performance of Sri Lanka stocks signals a continuation of investor confidence, especially in financials. However, they also caution that future trends will depend on earnings results, foreign participation, and liquidity conditions. For now, the steady gains and rising turnover reflect a stronger outlook for the Colombo market, supported by local buying interest and improved sentiment across key financial counters.