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

Sri Lanka’s tourist arrivals exceed 840,000 so far this year

Published

16 hours ago

April 27, 2026

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The Sri Lanka Tourism Development Authority (SLTDA) stated that the number of tourist arrivals in Sri Lanka so far has crossed the 840,000 mark.

Accordingly, a total of 840,411 tourists have visited the country between January 1 and April 22, 2026.

The highest number of arrivals has been recorded from India, with 176,465 tourists, the SLTDA noted.

A significant number of visitors have also arrived from countries including the United Kingdom, Russia, Germany, and China.

Meanwhile, the SLTDA stated that a total of 99,777 tourists arrived in the country between April 1 and April 22, 2026.

However, the data indicate that daily tourist arrivals in April have declined significantly compared to previous months.

Economy

Haputale restaurant fined Rs. 1 million forover pricing bottled water

Published

1 day ago

April 27, 2026

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A restaurant in Haputale has been fined Rs. 1 million for selling a bottle of drinking water above the maximum retail price.

The fine was imposed by the Bandarawela Magistrate’s Court on April 24 following a raid conducted by the Consumer Affairs Authority Badulla District Office.

The raid targeted a restaurant owned by a private company on Welimada Road in Haputale. Authorities found that the establishment had sold bottled water at a price exceeding the approved limit.

The court subsequently imposed a fine of Rs. 1,000,000 on the hotel.

Economy

Sri Lanka to Launch First Digital Motor Insurance Card from May 1

Published

3 days ago

April 25, 2026

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Sri Lanka’s Ministry of Finance, Planning, and Economic Development has announced that the country’s first digital motor insurance card will be introduced from May 1.

The Ministry stated that this initiative represents a significant step toward advancing national digitalization while also enhancing public safety.

By replacing physical plastic cards, the move is also expected to contribute to environmental sustainability across the country.

The Ministry added that the digital motor insurance card will be officially launched in collaboration with the Insurance Regulatory Commission of Sri Lanka, the Insurance Association of Sri Lanka, and the Sri Lanka Police.