ECONOMYNEXT – The Colombo Stock Exchange’s more liquid index, the S&P SL20, which tracks the top 20 largest and most liquid stocks, went beyond the 5,000 mark during mid-morning trade Friday.
The Index was up 0.60 percent, or 29.87 percent, at 5,001.74, after reaching an all-time high on Thursday.
The broader ASPI was up 0.64 percent, or 104.43 points at 16,452.
Turnover was 4.8 billion.
Constituents such as diversified John Keells Holdings was up at 24.20 rupees, while LOLC Holdings was down at 713.50; of the banks Commercial Bank was down at 145.25, Sampath Bank was down at 121.25.
Sri Lanka stocks have been on a bull run amid low interest rates and banks awash in excess liquidity in the last quarter making margin loans cheap.
The market also has had positive news, with improvements in banking sector, conclusion of debt restructuring.
All stocks in the S&P Sri Lanka 20 are classified according to the Global Industry Classification Standard, which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million rupees, a six-month average daily value traded of one million rupees, have been traded at least 10 days of each month for the three months prior to the rebalancing reference date, and have positive net income over the 12 months prior to the rebalancing reference date.
The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15 percent, which is employed to reduce single stock concentration.
It replaced the CSE’s previous Milanka price index. (Colombo/Jan3/2025)
Continue Reading
