On Wednesday, the Colombo Stock Exchange experienced a slight uptick following the central bank’s policy rate cut earlier in the day. The All Share Index (ASPI) rose by 0.90%, or 104.45 points, to close at 11,701, while the more liquid S&P SL20 Index increased by 1.35%, or 45.40 points, ending at 3,414.
Despite the positive movement, turnover was relatively low at 591 million rupees. According to Softlogic Stockbrokers, the ASPI became more attractive due to the inverse relationship with the policy rate, though trade volumes remained subdued.
Foreign activity was minimal, with a net outflow of 28 million rupees recorded for the day. Foreign buying interest was noted in Three Acre Farms Plc (up to 306.00), Haycarb Plc (up to 79.50), and Tokyo Cement Company (Lanka) Plc non-voting (unchanged at 42.00). Conversely, foreign selling was observed in Hatton National Bank Plc non-voting (up to 149.75), John Keells Holdings Plc (up to 193.25), and Bairaha Farms Plc (unchanged at 165.00).
Key contributors to the ASPI included Hatton National Bank Plc voting (up to 191.25), Richard Pieris and Company Plc (up to 19.80), and Commercial Bank of Ceylon Plc (up to 95.80).