Sri Lanka's main stock index rose marginally on the back of reduced petrol prices, with the All Share Price Index climbing 0.11 percent despite geopolitical concerns in West Asia.
The Colombo Stock Exchange delivered modest gains yesterday, with the All Share Price Index advancing 22.93 points to close at 21,338.84. Market analysts attributed the movement primarily to a recent reduction in petrol prices across certain fuel categories. The S&P SL20 index performed slightly better, rising 0.22 percent or 13.03 points to 6,018.37, with total market turnover reaching Rs 1.014 billion.
Capital goods stocks drove trading activity, accounting for Rs 300.64 million in turnover. Sierra Cables emerged as a retail market leader with Rs 77 million in trades, followed by Brown's Investments at Rs 68 million. Two significant block crossings were recorded: Access Engineering transferred 1 million shares valued at Rs 75 million, while Sierra Cables moved 850,000 shares for Rs 31 million. Across the market, 51 million share volumes traded in 15,669 transactions.
On the positive side, Brown's Investments surged 8.16 percent to Rs 5.30, while Carson Cumberbatch and Windforce gained 4.13 and 4.63 percent respectively. Among decliners, Vallibel One dropped 2.64 percent to Rs 88.50. Two companies announced scrip dividend distributions: Ceylon Land & Equity proposed Rs 0.043 per share, while Maharaja Foods declared Rs 0.10 per share following a 15 percent withholding tax adjustment.
Currency markets showed the rupee strengthening to Rs 327.68/75 against the US dollar from Rs 327.98/328.04 the previous trading day. Bond yields remained largely stable as dealers reported steady conditions across fixed income instruments.