Economy

Colombo stock market soars to two year high

Published

2 years ago

April 26, 2024

The Colombo stock market surged yesterday, propelling the main index to a two-year high.

The benchmark All Share Price Index (ASPI) gained by 1.4% or 170 points, closing at 12,075 points, its highest level since February 2022. The S&P SL20 also saw a notable increase of 2.8%, or nearly 100 points. Total turnover amounted to Rs. 3 billion, involving 142 million shares.

According to Asia Securities, the market initially experienced a downturn but quickly reversed course, ending the day on a high note. The banking sector led the upward momentum, driven by market expectations of provisions reversal, with leading banks such as COMB, PABC, SAMP, and DFCC showing significant gains. Additionally, heightened investor activity was observed in stocks like SINS, LOLC, JKH, and RCL.

COMB, HNB, and SAMP were the main contributors to the ASPI’s upward movement. Turnover was led by COMB, BIL, and LOFC.

Foreign investors recorded a net outflow, with notable activity in COMB.N and TKYO.X.

First Capital noted the market’s continued positive momentum, with the ASPI reaching its highest level since February 2022. Investor sentiment remained strong, particularly in the banking and conglomerate sectors, leading to robust turnover. The materials and food, beverage, and tobacco sectors also contributed significantly to turnover.

NDB Securities highlighted high net worth and institutional investor participation in banks like Pan Asia Banking Corporation and Commercial Bank. Mixed interest was observed in various stocks, with the banking sector emerging as the top contributor to market turnover. Browns Investments and LOLC Finance were among the top turnover contributors, while Singer Sri Lanka witnessed a notable increase in share price.

Overall, the market maintained an optimistic trajectory, buoyed by positive investor sentiment, particularly in the banking sector.

Economy

Tourist arrivals pass 2.1m for the first time in 2025

Published

1 day ago

December 5, 2025

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A total of 212,906 tourists have arrived in the country in the month of November, data from the Sri Lanka Tourism Development Authority (SLTDA) shows.

According to data released by the SLTDA, a total of 51,391 tourists have arrived from India which accounts to 24.1%. Furthermore, 24,953 persons from Russia, 16,915 from the United Kingdom, 14,518 from Germany and 9,384 Australian nationals have also visited Sri Lanka in the month of November.

Meanwhile, the number of tourists arrived in Sri Lanka in 2025 has increased to 2,103,593 with the release of the latest figures for November.

Among them, 474,796 individuals are from India, 191,742 from the UK, 158,593 from Russia, 131,259 from Germany, 121,671 from China and 101,771 are from France, the SLTDA noted.

Economy

Apple to support relief efforts in flood-hit Sri Lanka

Published

3 days ago

December 3, 2025

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Apple CEO Tim Cook has announced that the company will contribute to relief and rebuilding efforts across several Asian countries—including Sri Lanka—following days of severe flooding, landslides, and powerful winds.

Cook said that recent storms across Thailand, Indonesia, Malaysia, and Sri Lanka have devastated communities, extending the company’s condolences to all those affected.

Economy

Management Committee appointed for ‘Rebuilding Sri Lanka’ Fund

Published

5 days ago

December 1, 2025

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The Cabinet of Ministers has approved the establishment of the ‘Rebuilding Sri Lanka’ Fund, which aims to rebuild the country after the immense damage caused by Cyclone ‘Ditwa’, one of the worst natural disasters in Sri Lanka’s recent history.

The fund is to be established as a statutory fund under the Presidential Secretariat, and its Management Committee will comprise representatives from the government and private sectors.

Minister of Labour and Deputy Minister of Finance and Planning, Dr. Anil Jayantha Fernando, will serve as its Chairman, while Senior Additional Secretary to the President, G.M.R.D. Aponso will serve as the Convener of the Committee.

Other committee members include:

• President’s Special Envoy for Foreign Investment, Western Province Governor Hanif Yusoof
• Secretary to the Ministry of Finance, Dr. Harshana Suriyapperuma
• Senior Economic Advisor to the President, Duminda Hulangamuwa
• Director General of the Ministry of Foreign Affairs Sugeeshwara Gunawardena
• Chairman of the Hayles Group, Mohan Pandithage
• Chairman of John Keells Holdings (JKH), Krishan Balendra
• Deputy Chairman and Managing Director of Aitken Spence PLC, Dr. Parakrama Dissanayake
• Brandix Group CEO Ashroff Omar
• LOLC Executive Chairman Ishara Nanayakkara