Sri Lanka stocks trend down, HNB Finance lists shares from rights issue

Thursday July 9, 2026 11:27 am ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending down midday Thursday, CSE data showed, with the benchmark All Share Price Index moving down 0.49 percent. The ASPI was down 107.58 points at 21,720.92, while the more liquid S&P SL20 was…

Thursday July 9, 2026 11:27 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending down midday Thursday, CSE data showed, with the benchmark All Share Price Index moving down 0.49 percent. The ASPI was down 107.58 points at 21,720.92, while the more liquid S&P SL20 was up 0.38 percent, or 23.19 points, at 6,076.33. Positive contributors to the ASPI were Dialog Axiata (up 0.91 percent at 44.40 rupees), Seylan Bank (up 1.00 percent at 101.00 rupees), and Malwatte Valley Plantations (up 4.36 percent at 57.40 rupees). Melstacorp (down 0.80 percent at 186.25 rupees), Greg (down 6.57 percent at 37.00 rupees), Richard Pieris and Company (down 0.32 percent at 30.90 rupees), and Hatton National Bank (down 0.25 percent at 395.00 rupees) were top negative contributors. Market turnover was 503.2 million rupees. Food, Beverage & Tobacco led turnover with 137.6 million rupees. HNB Finance listed 381,667,019 new ordinary voting shares from its rights issue, and 80,072,222 non-voting shares. (Colombo/July09/2026)

Thursday July 9, 2026 11:03 am

ECONOMYNEXT – Sri Lanka’s government has decided to reopen the Bogambara Prison, one of the oldest prisons built in the colonial era and slated for a tourist project, for incarcerations following the deadly Negombo prison riot, according to a gazette published on July 8. Sri Lanka’s overcrowded prison situation has been exacerbated by a government flagship project seeking to crackdown on drugs, which has led to more arrests but fewer trials due to delays within the justice system, and a backlog in receiving forensic reports due to a shortage in government analysts. The Negombo prison riot death toll stands at 28, including 8 prison officers. The prison system is currently operating around 300% over-capacity, holding around 41,000 inmates against a designed capacity of roughly 10,500-11,000, Minister Nalinda Jayatissa said. “Recently, due to the nationwide drug eradication operations being implemented and arrests being made while enforcing the law, this number has escalated further to 41,000 as of today.” The Old Bogambara Prison, which was the second largest maximum security prison in Sri Lanka, was shut down in 2014 and converted to a cultural park in 2018. Plans to transform the jail into a multi-use building with some cells and rooms turned into shops, some into shared workspaces and some turned into hotel accommodation, failed due a lack of investors. The premises were refurbished at the Urban Development Authority’s expense with the intention of making it an attractive tourist destination. (Colombo/July09/2026)

Thursday July 9, 2026 9:55 am

ECONOMYNEXT – Sri Lanka’s rupee was quoted at 336.65/75 to the US dollar in the spot market on Thursday, weaker from 336.00/30 the previous day, while bond yields were quoted higher, dealers said. The telegraphic transfer rate for Sri Lanka’s rupee against the US dollar was 331.50 buying, 340.50 selling; the euro was 376.2676 selling, 390.1846 buying; and the pound was 443.1308 buying, 457.1764 selling. A bond maturing on 01.03.2030 was quoted at 11.20/30 percent. A bond maturing on 01.08.2030 was quoted at 11.38/45 percent, up from 11.30/35 percent. A bond maturing on 15.10.2030 was quoted at 11.45/50 percent, up from 11.36/40 percent. A bond maturing on 15.12.2032 was quoted at 11.70/75 percent, up from 11.60/70 percent. A bond maturing on 01.11.2033 was quoted at 11.75/85 percent, up from 11.70/80 percent. (Colombo/Jul9/2026)

Wednesday July 8, 2026 6:30 pm

ECONOMYNEXT – Sri Lanka’s proposed US$540 million deal with Clothespin Management and Development to build a hotel within the Colombo Port City, has expired unsigned in January 2026, the Director General of the Colombo Port City Economic Commission (CPCEC) told EconomyNext. The CPCEC in a Gazette in July last year gave a 25-year tax holiday to Clothespin Management and Development (Private) Limited, which plans to build a ‘twin tower marvel’ that will have a clock tower bigger than the Big Ben. The plan was to build a property that will house the “world’s largest art gallery in the “Hotel Use Land Plot 2-01-11 spanning over an area of 24,324 square metres in Colombo Port City”, the government said in a gazette notice last year. “The investor advised us he’s not going ahead with that development,” Revan Wickramasuriya, Director General, CPCEC told EconomyNext. “But he’s discussing new developments,” he said referring to Clothespin Management and Development’s latest talks with the CPCEC. The developer was unable to finalize the contract due to outstanding bond complication due to Sri Lanka’s economic situation, a Clothespin Management and Development source privy to the project said. New discussions have been ongoing with the Colombo Port City Economic Commission (CPCEC) and China Harbour Engineering Company (CHEC) on a new lease, the source said. Should a new lease agreement be finalised and signed, it will not be the same plot that will be assigned for the project, both the CPCEC Director General and the source said. The source also said the clock tower was removed from the original plan because it was not lucrative. As per the Gazette for the project published in July 14, 2025, the project needed to be signed within a six month period. However, it was not signed as agreed before January 14, 2026. The company previously pledged 540 million dollars, of which 75 million dollars was allocated for the land lease, and 465 million for construction. Correction: Previous version mentions board complications, the rectified version is a bond complication due to Sri Lanka’s economic situation. (Colombo/July08/2026)

Wednesday July 8, 2026 5:38 pm

ECONOMYNEXT – Sri Lanka’s Treasury bill yields were broadly steady at Wednesday’s auction, with the short-term dipping slightly, data from the Public Debt Management Office showed. All offered 100 billion rupees of bills sold. The 3-month bill was down 2 basis points at 10.21, with 50 billion rupees offered and 58.47 billion sold. The 6-month bill was unchanged at 10.30 percent, with all 35 billion rupees offered sold. The 12-month bill was unchanged at 10.20 percent, with 15 billion rupees offered and 6.53 billion sold. All 3 bills are available on tap. (Colombo/Jul8/2026)

Wednesday July 8, 2026 5:31 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 336.00/30 to the US dollar in the spot market on Wednesday, weaker from 334.75/85 the previous day, while bond yields closed up, dealers said. The telegraphic transfer rate for Sri Lanka’s rupee against the US dollar was 330.50 buying, 339.50 selling; the euro was 374.4884 selling, 388.4054 buying; and the pound was 440.2500 buying, 454.2956 selling. A bond maturing on 15.09.2027 closed flat at 10.30/45 percent. A bond maturing on 15.02.2028 closed at 10.45/55 percent, up from 10.45/50 percent. A bond maturing on 15.12.2029 closed at 11.00/10 percent, up from 10.95/11.05 percent. A bond maturing on 01.08.2030 closed at 11.30/35 percent, up from 11.25/30 percent. A bond maturing on 15.10.2030 closed at 11.36/40 percent, up from 11.28/30 percent. A bond maturing on 15.12.2032 closed at 11.60/70 percent, up from 11.57/65 percent. A bond maturing on 01.11.2033 closed at 11.70/80 percent, up from 11.60/70 percent. A bond maturing on 15.06.2035 closed at 11.75/85 percent. (Colombo/Jul8/2026)

Wednesday July 8, 2026 5:23 pm

ECONOMYNEXT – Sri Lanka hopes to complete several water infrastructure development projects by 2026/2027, at a cost of 17 billion rupees, which will provide safe drinking water to around 300,000 families, Minister Susil Ranasinghe has said. Part of this is the Thambuththegama Water Project, in the president’s hometown, which was completed at a cost of 32 billion rupees. President Anura Kumara Dissanayake and the Chinese Ambassador are scheduled to officially hand over the project to the public on July 10. The project is funded through a loan from the China Development Bank (CDB), with construction and implementation carried out by Chinese state‑owned companies. The facility is designed to provide safe drinking water to 25,000 families across 42 Grama Niladhari divisions, including Thambuththegama, Thalawa, and Galnewa. The government will also lay the foundation stone for the Kebithigollewa-Horowpothana Water Project which is supported by the Japan International Cooperation Agency (JICA) with an estimated cost of 52 million rupees, this project aims to serve 50,000 families.

A primary goal of this expansion is to combat Chronic Kidney Disease (CKDu) by providing safe surface water to regions where groundwater quality is linked to the illness. Additional infrastructure goals for 2026 include the opening of the Laggala project and the completion of the Polgahawela project within two months. The Nuwara Patha Sunwara project, which will serve 73,000 families, is expected to be finished by year-end. (Colombo/July08/2026)