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Stock market stifled by anxieties over fuel price revision

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By Hiran H. Senewiratne

High global oil prices and local anxieties over a fuel price revision by the Ceylon Petroleum Cooperation next week created volatile market conditions yesterday.

The All Share Price Index went down by 29.54 points, while the S and P SL20 rose by 5.7 points. Turnover stood at Rs 814.9 million with three crossings.

Those crossings were: NDB 1.8 million shares crossed for Rs 198 million; its shares traded at Rs 110, People’s Leasing and Finance 5.7 million shares crossed for Rs 104 million; its shares traded at Rs 18.10 and Dipped Products 389,000 shares crossed for Rs 23.8 million; its shares traded at Rs 61.10.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 36.3 million (1.9 million shares traded), CIC Rs 30 million (1.1 million shares traded), CDB Rs 22 million (633,000 shares traded), Prime Lands Residencies Rs 21.5 million (545,000 shares traded), Dipped Products Rs 19.7 million (322,000 shares traded), Hayleys Fabric Rs 14.5 million (561,000 shares traded) and Lion Brewery Rs 14 million (79500 shares traded). During the day 26.5 million share volumes changed hands in 10500 shares traded.

It is said that banking sector counters, especially NDB, performed well while the manufacturing sector, especially JKH, performed well.

Meanwhile, Singer Finance (Lanka) announced dates for its proposed rights issue of ordinary voting shares following in-principle approval from the CSE on September 23, with the Extraordinary General Meeting scheduled for October 15, 2026, and the Ex-Rights (XR) date set for October 16.

Pan Asia Banking Corporation announced an issuance of listed, rated, senior, unsecured, redeemable debentures to raise up to Rs 5 billion. The bank will offer an initial 20 million debentures at Rs 100 each, with options to issue up to an additional 30 million debentures, opening for subscription on October 1, 2026.

Yesterday the rupee was quoted at 333.15/30 to the US dollar in the spot market from Rs 330.30/55 the previous day, while bond yields were broadly steady, dealers said.

A bond maturing on 15.10.2028 was quoted at 10.45/60 percent, up from 10.40/60 percent.

A bond maturing on 15.12.2029 was quoted at 10.80/11.00 percent, up from 10.70/80 percent.

A bond maturing on 01.08.2030 was quoted at 11.10/15 percent, up from 11.15/20 percent.

A bond maturing on 15.10.2030 was quoted at 11.20/25 percent.

A bond maturing on 01.02.2031 was quoted at 11.25/30 percent, down from 11.25/35 percent.

A bond maturing on 15.10.2034 was quoted at 11.93/12.05 percent, up from 11.95/12.00 percent.



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Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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