Business
CSE indices dip below average turnover
By Hiran H.Senewiratne
CSE saw the bear run persist for the third consecutive day with both indices dipping sharply below average turnover. The market was negative and at one point it declined to 200 points and subsequently started recovering but not up to a steady level, stock market analysts said.
The market saw heavy foreign selling worth Rs. 700 million, up from Rs. 53.5 million, thereby pushing the year-to-date figure up. Foreigners continue to exit from some blue chip companies.
As result, both indices moved downwards. All Share Price Index went down by 131.94 points and S and P SL20 went down by 56.09 points. Turnover stood at Rs. 2.43 billion with a single crossing. The crossing was reported in Lion Brewery, which crossed 673,000 shares to the tune of Rs. 363 million, its shares traded at Rs. 540.
In the retail market five companies that mainly contributed to the turnover were, Vallibel One Rs 290 (5.7 million shares traded), LOLC Rs. 243 million (736,000 shares traded), Expolanka Rs. 197 million (4.4 million shares traded), Browns Investment Rs. 170 million (1.1 million shares traded) and Dipped Products Rs. 127 million (2.9 million shares traded). During the day 141 million share volumes changed hands 23199 transactions.
During the day, top turnover companies, LOLC, JKH, Browns Investments, Melstacorp and Expolnka contributed negatively to the Index. LOLC being one of the top listed companies in the stock market contributed 21 negative points to the All Share Price Index. Other companies were, JKH 7 negative points, Browns, Melstacorp and Expolanka contributed six negative points each during the day.
It is said that CTC and Carsons Cumberbatch contributed positively to the All Share Price Index. CTC contributed the highest number of points to the Index which was 10 points.
It is said that even though the market’s recent downward trend is disappointing, it is believed that the bourse will gradually reverse course in line with the expectation of an upward biased long term trajectory.’Consequently, investors are advised to take advantage of the current weakness and focus on accumulating fundamentally robust and liquid stocks in high growth sectors with a long term investment horizon, stock brokers said.
Sri Lanka’s rupee opened weaker at 195/199 levels to the US dollar in the one-week forwards market on Wednesday while bond yields were slightly up, dealers said. The rupee last closed in the one- week forward market at 196.50/197.50 to the dollar on Tuesday.
First Capital Holdings PLC successfully hosted its 11th Edition of its First Capital Colombo Investor Symposium on 17th January, at the Cinnamon Grand, Colombo. Drawing over 300 invitees and 400 participants online, the event proved to be one of the largest and most influential investor gatherings in the country, further solidifying First Capital Holdings’ leadership in fostering economic discourse and empowering investors with strategic insights. The focus of this year’s symposium was Sri Lanka’s Economic Outlook for 2025, with an in-depth analysis of market forecasts, strategic investment approaches and emerging opportunities within the country’s capital markets.
The highlight of the event was the keynote address delivered by Professor Anil Jayantha Fernando, Minister of Labor and Deputy Minister of Economic Development.
The event also featured a distinguished panel discussion, moderated by Deshani Ratnayake, Vice President Corporate Finance at First Capital Holdings. The expert panel included Gihan Cooray, Deputy Chairman/Group Finance Director of John Keells Holdings PLC; Hasitha Premaratne, Managing Director of Brandix; Rachini Rajapaksa, Independent Non-Executive Director of Nations Trust Bank; and Dimantha Mathew, Chief Research and Strategy Officer of First Capital Holdings PLC. The panelists offered a wealth of experience and expertise, providing attendees with comprehensive insights on how to navigate Sri Lanka’s evolving market landscape and capitalize on emerging investment opportunities. The symposium also featured a comprehensive presentation by Dimantha Mathew together with Ranjan Ranatunga, Assistant Vice President – Research at First Capital, who delved deeper into market dynamics and key trends that investors should closely monitor in 2025.
Dilshan Wirasekara, Managing Director/CEO of First Capital Holdings PLC, emphasized the institution’s unwavering commitment to shaping Sri Lanka’s investment landscape: “At First Capital, we are dedicated to creating value for our clients by providing them with deep market insights and actionable strategies. Events like the First Capital Colombo Investor Symposium allow us to bring together thought leaders and investors to not only share knowledge but also to foster a collaborative approach to achieving sustainable investment success.”
People’s Bank recently conducted the grand draw of the People’s Debit Card “Gedaratama Thegi” promotion. During the event, three grand winners were selected to receive home appliances worth Rs. 1 million, Rs. 500,000, and Rs. 250,000, respectively.
Additionally, supermarket vouchers worth Rs.25,000 will be awarded to 150 lucky winners who were picked during the monthly draws. In total, “People’s Debit Card Gedaratama Thegi” gave away prizes worth Rs.5,500,000.
People’s Bank Head of Finance Azzam A. Ahamat, Deputy General Manager – Payment, Process Management and Quality Assurance Nilmini Premalal, Chief Manager (Audit) Nayana Moragoda, Senior Manager (IT) Vipula Warnakula, Manager (Card Business and Marketing) Aruna Danthanarayana, Manager (Card business & products) Chalani Senanayake and Department of Revenue (Western Province) Appraiser U.D. Gunawardana participated in the event.
As part of its ongoing commitment to social welfare and environmental sustainability, David Pieris Group recently took the lead in cleaning an 850-meter stretch of Thalaramba Beach in Kamburugamuwa, Matara. This beach cleanup effort was part of the government’s larger initiative to enhance the cleanliness and appeal of Sri Lanka’s coastline, which spans from Puttalam to Hambantota.
The cleanup occurred near the Group’s Matara Operations Centre and was coordinated in partnership with the Marine Environment Protection Authority’s (MEPA) Matara District Office.
In addition to the company’s staff, twelve undergraduates from the University of Ruhuna also participated, working together to remove waste and debris, contributing to a cleaner environment and improving the region’s appeal for both locals and tourists.
The Group’s environmental and social welfare initiatives go beyond beach cleanups. They also include donating fully equipped houses to low-income families, providing medical equipment to hospitals, offering financial aid to individuals with critical illnesses and disabilities, improving public transport in rural areas, and empowering women through entrepreneurship training programmes.
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