FINANCIAL CHRONICLE – On Monday, the Colombo Stock Exchange in Sri Lanka concluded trading with minimal fluctuations, as reported by brokers. The All Share Price Index (ASPI) experienced a slight decline of 0.6 points, closing at 23,955.91. In contrast, the S&P SL20 index saw a modest increase of 0.19 percent, or 12.70 points, ending at 6,662.20.
Key positive contributors to the ASPI included Melstacorp, priced at 185.25, Harischandra Mills at 6,982.00, and LOLC Holdings at 617.75. The total market turnover reached 5.5 billion rupees, with a significant portion, 1.6 billion rupees, coming from the Capital Goods sector.
Dimantha Matthews, Chief Research and Strategy Officer at First Capital Holdings, commented, “The market remained rather flat and stagnant throughout the day, but there was selective buying interest in a few sectors.”
Market activity was predominantly observed in the real estate and construction sectors, a trend that has been ongoing since the aftermath of Cyclone Ditwah. Harischandra Mills emerged as a leading contributor following the acquisition of a controlling interest by Ambeon Essentials (Pvt) Ltd.
For further details, refer to: Ambeon Capital to acquire a 51.11 percent stake in Sri Lanka’s Harischandra Mills.
Additionally, C M Holdings announced the signing of a sale and purchase agreement to sell a property in Thalangama South to Vogue Real Estate (Pvt) Ltd for 260 million rupees.
The Colombo Stock Exchange (CSE) also reported that its Invest Sri Lanka Investor Forum in Dubai attracted over 160 participants from various sectors, highlighting a strong interest in investing in Sri Lanka’s capital market. This event was co-hosted by the CSE, the Securities and Exchange Commission of Sri Lanka (SEC), the stock broking industry, the Embassy of Sri Lanka in Abu Dhabi, the United Arab Emirates, and the Consulate General of Sri Lanka in Dubai & Northern Emirates UAE.
The SEC further noted that investor meetings were conducted in Saudi Arabia on January 25-26.
