ECONOMYNEXT – Sri Lanka stocks rose 0.35 percent for the fourth straight session as a local election neared, brokers said.
Colombo’s broader ASPI closed 55.87 points up, at 15,867.34, while the S&P SL20 of more liquid stocks closed 0.38 percent, or 17.87 points to close at 4,671.26.
Turnover was marginally down to 2.09 billion rupees in the session from 2.8 billion rupees earlier.
“Market has been on the slightly bullish side,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC told EconomyNext. “We are seeing some buying interest coming in.”
“There’s mixed sentiment on banks.”
Stocks were trading in the positive territory after reports of “fruitful” US tariff talks and the successful IMF staff level agreement.
“After the first half or so we saw some profit taking in the market,” Mathew said.
Share volumes rose to 109,496,580 from 89,529,648 in the session, with export stocks remaining positive.
Hayleys closed at 134.25 rupees, up 0.25 rupees, Hayleys Fabric ended at 42.80 rupees, up 0.10 rupees, and Dipped Products, an exporter of gloves, closed at 53.80 rupees, up 0.80, amid stronger demand for export stocks.
Haycarb, an activated carbon manufacturer ended at 82.20 rupees, down 0.70, following coconut prices hitting an all time high at the weekly auction on Thursday.
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Some bank stocks were down in the session.
Sampath Bank closed at 110.00 rupees, down 0.50 rupees, HNB (non-voting stock) fell to 251.25 rupees, down 1.75 rupees, while Seylan Bank dropped to 69.80 rupees, down 0.10 rupees, in the session.
Manufacturing and food and beverage sectors recorded the highest turnover, Mathew said.
“Interest in diversified financials was also seen. Leasing market has significantly picked up.”
John Keells Holdings closed at 20.80 rupees, up 0.30 rupees, CTC closed at 1,370 rupees, up 20.00 rupees, Aitken Spence closed at 127.00, up 2.00, Commercial Bank closed at 137.50 rupees, up 0.50 and HNB closed at 297.75 rupees, up 1.00, making up the top contributors to the ASPI.
Global stocks have edged up after US president Donald Trump signaled an easing of auto tariffs.
“The United States said it would move to reduce the impact of duties imposed on foreign parts in domestically manufactured cars, and keep tariffs on vehicles made abroad from stacking up on other duties,” India’s Business Standard newspaper said quoting an official.
“President Trump is building an important partnership with both the domestic automakers and our great American workers,” Commerce Secretary Howard Lutnick said in a statement provided by the White House.
Pan-Europe’s Stoxx 600 index was trading 0.38 percent up at 525.11, while Hong Kong’s Hang Seng ended up 0.16 percent at 2,008.11.
Pakistan Stock Exchange’s KSE 100 index ended 0.71 percent down at 114,872.18 as diplomatic tensions soared, while India’s Nifty 50 closed 0.031 percent up at 24,335.95 and BSE Sensex ended 0.087 percent stronger at 80,288.38.
China’s SSE Composite index fell 0.054 percent to 3,286.65. (Colombo/Apr29/2025)
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