FINANCIAL CHRONICLE – On Tuesday, the Colombo Stock Exchange in Sri Lanka experienced an upward trend, as indicated by CSE data. The benchmark All Share Price Index (ASPI) increased by 0.34 percent.
The ASPI rose by 75.53 points, reaching a total of 22,456.18. Similarly, the more actively traded S&P SL20 index also saw a gain of 0.41 percent, which equates to an increase of 25.81 points, bringing its total to 6,245.34.
Among the notable gainers contributing positively to the ASPI were Melstacorp, which climbed by 1.08 percent to 187.50 rupees, Commercial Bank of Ceylon with a 0.84 percent increase to 211.00 rupees, Hatton National Bank that rose by 0.56 percent to 406.00 rupees, and DFCC Bank, which saw a rise of 1.30 percent to 136.75 rupees.
Conversely, some companies negatively impacted the index, including LOLC Holdings, which fell by 2.12 percent to 520.00 rupees, Cargill’s (Ceylon) also down by 2.12 percent to 520.00 rupees, and Prime Lands Residencies, which decreased by 2.46 percent to 47.50 rupees.
The overall market turnover reached 2.42 billion rupees, with the materials sector dominating this figure, contributing approximately 1.4 billion rupees.
In commodity news, Brent crude oil prices dipped below 83 dollars per barrel after experiencing a nearly 5 percent decline. Investors are currently awaiting further details regarding a potential peace agreement between the US and Iran that is anticipated to be finalized in Switzerland. Shipping companies are postponing vessel departures until there is confirmation that this deal will safely reopen the Strait of Hormuz, a critical route that has affected a significant portion of global crude oil shipments since late February.
