The Colombo Stock Exchange traded with mixed signals on Thursday while economic indicators showed strength elsewhere, with customs collections exceeding targets for a seventh consecutive month.
Sri Lanka's stock market presented a cautious picture on Thursday midday, with the benchmark All Share Price Index declining 0.12 percent to 21,203.70 points, while the more actively traded S&P SL20 index managed a modest gain of 0.07 percent. Market turnover reached 200.5 million rupees, with the capital goods sector accounting for the largest share at 58.5 million rupees. Among major movements, Dialog Axiata and Sampath Bank posted gains, while shares in Commercial Bank of Ceylon and Capital Alliance fell during the session.
On the currency front, the Sri Lankan rupee strengthened slightly against the US dollar, closing at 335.95/336.05 compared to 336.10/20 on Tuesday. Bond yields remained broadly stable across various maturities. Treasury bill yields showed improvement at Tuesday's auction, with the 3-month bill declining 9 basis points to 9.86 percent, while all offered securities found buyers.
A significant bright spot emerged in government revenue collection, as Sri Lanka Customs exceeded its monthly target for the seventh consecutive month in July. The department collected 227.6 billion rupees within the first 27 days of the month, surpassing its 192.4 billion rupee target. Officials attributed the strong performance to enhanced enforcement measures, improved valuation practices, and increased import volumes following the country's economic stabilization. With seven months completed, customs has achieved 73 percent of its annual 2,207 billion rupee revenue target.
Meanwhile, the government moved to strengthen financial oversight by designating the Securities and Exchange Commission as the regulator for virtual assets and cryptocurrency service providers. The Cabinet also approved the disposal of accumulated scrap metal from the state transport authority for 195.89 million rupees across six industrial bidders.
