The Colombo Stock Exchange closed higher on Friday with the benchmark index gaining 0.05 percent, while the rupee appreciated to 329.25/50 against the US dollar. Capital goods emerged as the strongest sector, driving market activity.
Sri Lanka's stock market ended Friday's trading session with modest gains, as the All Share Price Index increased by 10.99 points to close at 21,416.61, representing a 0.05 percent rise. The more actively traded S&P SL20 index performed slightly better, climbing 0.19 percent or 11.50 points to 6,030.75. Total market turnover reached 1.22 billion rupees, with the capital goods sector leading activity at 480.7 million rupees.
Among positive contributors, Citizens Development Business Finance gained 5.07 percent to 39.40 rupees, while Sierra Cables advanced 6.13 percent to 34.60 rupees following the board's approval of a 3.23 million dollar capital investment plan to expand export production capacity. Hemas Holdings, Dialog Axiata, and Sampath Bank also registered gains. On the downside, Richard Pieris and Company fell 4.03 percent, Commercial Development Company declined 4.75 percent, and RIL Property dropped 2.43 percent.
On the currency front, the rupee strengthened further against the US dollar, appreciating to 329.25/50 compared to the previous day's 330.10/20. Government bond yields remained relatively stable across most maturities, with select longer-dated bonds showing minor downward movement. The stronger rupee reflects broader currency market stability as the country continues economic recovery efforts.
Separately, the Ceylon Chamber of Commerce is promoting greater international business engagement through the upcoming Sri Lanka Economic and Investment Summit scheduled for October 12-13. The chamber has also signed memorandums of understanding with the Qatar Sri Lanka Business Council and the Beirut-Mount Lebanon Chamber of Commerce to facilitate trade and investment opportunities.
