FINANCIAL CHRONICLE – On Monday, the Colombo Stock Exchange in Sri Lanka experienced a positive closing, marked by increased activity in the banking sector, according to brokers.
The All Share Price Index rose by 0.71 percent, translating to an increase of 160.82 points, reaching a total of 22,710.35. Similarly, the S&P SL20 index gained 0.60 percent, or 37.12 points, closing at 6,244.68.
Dimantha Matthew, Chief Research and Strategy Officer at First Capital Holdings, noted that the uptick in banking stocks may be attributed to renewed investor interest following a decline in April that affected the entire banking sector.
Among the notable gainers were National Development Bank, which climbed 3.34 percent to close at 116 rupees, Dialog Axiata, up 2.29 percent at 35.80 rupees, Melstacorp, which increased by 1.09 percent to reach 185 rupees, and Colombo Dockyard, rising 3.71 percent to 132.75 rupees.
Conversely, Ceylinco Insurance saw a decrease of 2.82 percent, closing at 3,156.50 rupees, while Cargills (Ceylon) fell by 1.42 percent to 696 rupees, and Windforce declined by 1.65 percent, ending at 47.60 rupees.
The total market turnover reached 4.81 billion rupees, with the food, beverage, and tobacco sector leading this figure at 2.72 billion rupees, followed by the banking sector, which contributed 808.4 million rupees.
Matthew further explained that the Ceylon Tobacco Company accounted for approximately half of the total turnover, with crossings amounting to 2.4 billion rupees.
Crossings were observed in various companies, including Ceylon Tobacco Company (1,341,170 shares), John Keells Holdings (1 million shares), Lanka IOC (150,000 shares), Laugfs Gas (480,000 shares), Sierra Cables (1 million shares), Commercial Bank of Ceylon (500,000 shares), and Asiri Hospital Holdings (600,000 shares).
Interest in Melstacorp surged following the announcement that its fully owned subsidiary, Mels Automobiles (Private) Limited, has become the authorized importer and dealer for BMW vehicles in Sri Lanka, resulting in a 2 rupee increase to 185 rupees.
A research note from First Capital suggested that the rise in rubber prices may benefit companies listed on the stock exchange that have exposure to the rubber industry. Among the gainers were Maskeliya Plantations (up 10 cents at 71.80 rupees), Watawala Plantations (up 20 cents to 50.60 rupees), and Hapugastenna Plantations (up 30 cents at 57.60 rupees). Meanwhile, Malwatte Valley Plantation (58.00 rupees), Bogawantalawa Plantations (74.90 rupees), and Namunukula Plantations (76.50 rupees) remained unchanged.
In broader regional market trends, India’s Nifty 50 index increased by 0.44 percent, or 104.60 points, reaching 24,102.15, while Hong Kong’s Hang Seng index rose by 1.24 percent, or 319.35 points, to close at 26,095.88. (Colombo/May4/2026)
