ECONOMYNEXT – Colombo Stock Exchange continue to trade 0.19 percent higher after the Central Bank of Sri Lanka cut rates by 25 basis points due to lower than projected inflation and expected lower external demand, brokers said.
“Market was a bit slow today,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital told EconomyNext.
The broader All Share Price Index ended 31.49 points higher, at 16,504.86 while the more liquid S&P SL20 traded marginally up at 0.01 percent, or 0.44 points to close up at 4,842.95, ending a highly volatile session.
“There was interest in retail as well as high net worth shares,” Ranatunga said. “Interest on conglomerates and mid cap shares was also seen.”
The broader ASPI was pushed by Hemas Holdings which rose 0.70 rupees to close at 25.60 rupees, Co-operative Insurance Company ended 0.30 rupees higher at 3.30 rupees, Sunshine Holdings traded 0.80 rupees stronger at 24.30 rupees, CT Holdings was 7.25 rupees up at 420.25 rupees, and Bukit Darah ended 19.50 rupees up at 749.75 rupees.
Following the release of its accounts, Hemas Holdings was topping the All Share Price Index.
“Turnover level remained higher than the monthly average of 2.5 billion rupees,” Ranatunga said.
Turnover fell to 3.7 billion rupees in the session from 4.5 billion rupees in the previous day, while the share volume marginally declined from 277,347,872 on Thursday to 182,459,219.
Export shares attracted lower interest as investors await GSP+ and US tariff developments.
Hayleys Fabric ended 0.40 rupees weaker at 41.00 rupees, Teejay Lanka was 1.00 rupees down at 45.50 rupees, Dipped Products fell 0.30 rupees to 50.70 rupees, while Hayleys Fibre rose 1.40 rupees to 49.80 rupees, Haycarb rose 0.70 rupees to 83.70 rupees; despite a global coconut shortage, and Hayleys closed 1.00 rupees up at 143.00 rupees.
In Asia, Tokyo stocks rebounded on Friday boosted by the buying of semiconductor-related issues amid declines in long-term Japanese interest rates, but gains were trimmed by a stronger yen hurting some exporters, Japan’s The Mainichi said.
Japan’s Nikkei 225 closed 0.47 percent up at 37,160.47 in the session.
India’s Nifty 50 was trading 1.12 percent stronger at 24,885.55 while BSE Sensex ended 1.06 percent up at 81,810.31 despite diplomatic tension with the neighbouring Pakistan.
As at 2.30 p.m Sri Lankan time, spot gold was trading at 3,339.87 US dollars, up 37.47 US dollars. (Colombo/May23/2025)