ECONOMYNEXT – Sri Lanka stocks are continuing an upward trend, unaffected by US President Donald Trump’s reciprocal tariff announcement expected on Wednesday, brokers said.
“Trump is proposing a second reciprocal tariff that could affect the market negatively,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital told EconomyNext.
This second tariff comes as part of the US administration’s ‘liberation day’ plans, expected to be unveiled on Wednesday. However, the Sri Lankan market appears unperturbed for now.
Donald Trump’s reciprocal tariff plan is expected to affect “all countries”.
“Market is continuing the positive sentiment,” Ranatunga said. “Activity is moderate.”
The broader ASPI closed up 0.46 percent, or 73.06 points, at 16,007.44; while the more liquid S&P SL20 Index closed up 0.23 percent, or 10.84 points, at 4,762.62.
“Turnover was slightly better than the monthly average,” Ranatunga said.
Turnover in the session was 2.29 billion rupees. Share volume rose to 79,621,277.
“Market picked up in the morning. There was somewhat of a volatility during the day.”
“Profit-taking was seen toward the latter part of the day.”
Top contributors to the ASPI were Hayleys (rose 3.0 percent stronger at 147.75 rupees), Ceylon Tobacco Company (rose 1.7 percent at 1,383.25 rupees), Royal Ceramics (ended 2.6 percent stronger at 39.00 rupees), Chevron Lubricants Lanka (rose 2.9 percent at 144.00 rupees) and Dialog Axiata (up 2.1 percent at 14.50 rupees).
“Except utilities and transportation sectors, all the other sectors traded positively,” Ranatunga said.
Major contributors to turnover were capital goods (754 million rupees), food, beverage and tobacco (359 million rupees) and materials (353 million rupees) stocks.
John Keells Holdings (302 million rupees), Lion Brewery Ceylon (66 million rupees) and CIC Holdings (91 million rupees) saw high turnover.
Most active volumes were seen in John Keells Holdings at 16,436,000 (turnover 332,374,668.70 rupees), National Lanka Finance at 11,932,058 (turnover 2,390,617.40) Browns Investments at 5,373,567 (turnover 40,046,763.80 rupees) and Access Engineering at 3,712,613 (turnover 148,642,455.40 rupees). (Colombo/Apr2/2025)
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