The Colombo Stock Exchange in Sri Lanka experienced an upswing on Thursday, driven by heightened investor interest in Wealth Trust and banking stocks, according to brokerage reports. The All Share Price Index increased by 0.97%, equating to a rise of 226.81 points, reaching 23,520. Meanwhile, the S&P SL20 saw a 1.57% increase, or 100.01 points, closing at 6,463.
Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC, stated, “The market was quite bullish today, likely due to anticipated banking sector dividends and the cancellation of trades from the previous day.” He noted a particular interest in banking and construction sector stocks.
“There was also significant interest in Wealth Trust, which drove the turnover,” Mathew added. The day’s turnover reached 12.32 billion.
The primary contributors to the ASPI included Hatton National Bank, which rose by 8.50 rupees to 426, Sampath Bank, up by 2.75 rupees to 154, Commercial Bank, increasing by 3.50 rupees to 216, DFCC Bank, which climbed 5.25 rupees to 158.50, and Central Finance Company, rising by 9.75 rupees to 288.
Wealth Trust notably surged by 167.14%, or 11.70 rupees, ending at 18.70, after its debut at 7 rupees. (Colombo/Jan8/2025)
