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CSE reverses gains as investors cash out ahead of results

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The Colombo Stock Exchange (CSE) reversed its early morning gains yesterday as investors moved to cash out ahead of the third quarter corporate results. The dip suggested a more cautious mood on the trading floor. Market analysts said many traders were  choosing to take their profits now rather than waiting for the next round of corporate financial reports.

Amid those developments both indices moved downward. All Share Price Index down by 103.73 points while S and P SL20 down by 13.73 points.

Turnover was Rs  4.68 billion with seven crossings. Most of this came from capital goods. Those crossings were reported in ACL Cables 2.8 million shares crossed to the tune of Rs 291 million and its share price traded at Rs 102, Tokyo Cement (Non-Voting) 2.7 million shares crossed to the tune of Rs 155 million and its share price traded at Rs 93, Dialog Axiata 4.5 million shares crossed to the tune of Rs 155 million and its share price traded at Rs 34.50, HNB 200,000 shares crossed to the tune of Rs 84.5 million and its share price traded at Rs 425, Tokyo Cement 500,000 shares crossed to the tune of Rs 56 million and its share price traded at Rs 112, CIC Holdings 1.3 million shares crossed to the tune of Rs 39.6 million and its share price traded at Rs 30.50, Sierra Cables one million shares crossed to the tune of Rs 38.8 million and its share price traded at Rs 37.30.

In the retail market top seven companies that have mainly contributed to the turnover were Citrus Leisure Rs 287 million (63 million shares traded), Colombo Dockyards Rs 236 million (two million shares traded), Haylays Rs 153 million (786,000 shares traded), Valibel Finance Rs 156 million (1.4 million shares traded), Tokyo Cement (Non-Voting) Rs 153 million (1.6 million shares traded), Commercial Bank Rs 107 million (148,000 ,,shares traded) and JKH Rs 95 million (4.3 million shares traded). During the day 114.3 million shares volumes changed hands in 40601 transactions.

It is said that manufacturing sector counters led the market especially ACL Cables while hotela and leisure sector counters especially Citrus Leisure performed well. Further banking sector counters HNB and Commercial Bank significantly performed well.

Top negative contributors to the ASPI were Dockyard (down Rs 8.25 at 108.00), Commercial Bank (down Rs 2.25 at 222.75), Nations Trust Bank (down  Rs 7.25  at 342.75), and Sampath Bank (down Rs 0.75 at 155).

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted at  Rs 309.75/80 to the US dollar in the spot market, slightly weaker from  Rs 309.70/80 on Friday, having depreciated in recent weeks, dealers said, while bond yields were broadly steady.

A bond maturing on 15.02.2028 was quoted at 9.06/10 percent.

A bond maturing on 15.03.2028 was quoted at 9.05/15 percent, up from 9.05/10 percent.

A bond maturing on 15.10.2029 was quoted at 9.67/72 percent.

A bond maturing on 15.12.2029 was quoted flat at 9.70/75 percent.

A bond maturing on 01.03.2030 was quoted at 9.75/80 percent.

A bond maturing on 01.10.2032 was quoted flat at 10.35/50 percent.

A bond maturing on 15.06.2035 was quoted at 11.10/20 percent, up from 11.10/15 percent.

By Hiran H Senewiratne 



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SriLankan Airlines Enhances Australia Connectivity with 14 Weekly Flights

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11 March 2026; Colombo – SriLankan Airlines is set to increase its weekly service between Colombo and Melbourne to 10 flights, effective from 2 August 2026, with the addition of three more scheduled flights in response to growing demand and evolving market dynamics. The expansion reinforces the airline’s commitment to strengthening its footprint in Australia, recently identified as one of the fastest-growing inbound tourism markets to Sri Lanka, driven by leisure travel and a rising volume of visits by family and friends.

The newly added flights will operate every Tuesday, Thursday and Sunday, departing Colombo as UL608 at 14:10 hrs and arriving in Melbourne at 04:30 hrs the following day. The return service, UL609, will depart Melbourne every Wednesday, Friday and Monday at 06:00 hrs, arriving in Colombo at 12:15 hrs the same day, offering convenient onward connections across the airline’s network. The schedule is designed to maximise time spent in Sri Lanka for leisure travellers while enhancing connectivity for passengers travelling onwards to India via Colombo.

In addition to the new frequencies, the airline will continue operating its daily service, UL604, departing Colombo at 00:20 hrs and arriving in Melbourne at 14:40 hrs, with the return service UL605 departing Melbourne at 16:10 hrs and arriving in Colombo at 22:25 hrs. These services provide seamless connectivity to key destinations across India and beyond.

This addition of flights will provide Sri Lankans with better options when choosing flights between the two countries and enable them to plan their travel more conveniently. The increased frequency will be especially beneficial for the Sri Lankan diaspora living in Australia, providing greater flexibility to visit family and friends while maintaining strong connections with their homeland.

Additionally, Sri Lankan students studying in Australia will find these enhanced services advantageous, as the expanded schedule accommodates academic calendars and holiday breaks, making it easier to travel home and return to their studies. Overall, improved connectivity supports both the expatriate community and students by offering more convenient and accessible travel options tailored to their needs.

The increased frequencies will further strengthen Colombo’s role as a regional hub, enabling Indian travellers to seamlessly connect via Sri Lanka to Melbourne, with convenient schedules and efficient onward connections. For more information and bookings, visit www.srilankan.com or follow us on our social media.

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Nestlé Lanka marks 120 years of nourishing Sri Lankan families and livelihoods

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Nestlé Lanka Chairman and Managing Director Bernie Stefan (left) and Ruwan Welikala, Director – Corporate Affairs and Communications, provide an overview of Nestlé Lanka’s 120-year journey in Sri Lanka at a media briefing held on March 10 at Cinnamon Life – City of Dreams, Colombo. Pic by Nishan S. Priyantha

Nestlé Lanka Limited this year marks 120 years of operations in Sri Lanka, highlighting a century-long presence that has extended beyond food manufacturing to supporting farmers, communities, youth employment and environmental sustainability.

Established in 1906, the company has grown into one of Sri Lanka’s leading food and beverage manufacturers, today producing more than 90% of the products it sells locally. Over the decades, Nestlé Lanka has built a strong domestic footprint through local sourcing, long-term farmer partnerships and continued investment in manufacturing.

Through widely recognised brands such as Nestomalt, Milo and Maggi, the company has become a familiar presence in Sri Lankan households, offering products designed to meet local nutritional needs. Many of its products are fortified with micronutrients aimed at improving dietary intake, while brands such as Milo and Nestomalt have also supported youth sports and active lifestyles in the country.

Nestlé Lanka’s engagement with local agriculture has also played a role in strengthening rural livelihoods. The company works closely with dairy and coconut farmers, providing technical assistance, skills development and reliable market access as part of its responsible sourcing efforts.

The company has also expanded programmes aimed at improving youth employability. Through the “Nestlé Needs YOUth” initiative, young Sri Lankans are provided with access to training, learning and career opportunities. Partnerships with organisations such as BConnected have also helped promote inclusive employment opportunities for people with disabilities.

Sustainability has become an increasingly central focus of the company’s operations. Nestlé Lanka’s manufacturing facility in Kurunegala operates on 100% renewable electricity, while a biomass boiler commissioned in 2024 has helped reduce carbon emissions from manufacturing. The company aims to achieve net-zero carbon emissions by 2050.

Efforts to reduce environmental impact have also extended to packaging. Nestlé Lanka pioneered the shift from plastic to paper straws in aseptic beverage cartons in 2019 and supported the establishment of Sri Lanka’s first recycling plant for such cartons. The company aims to become fully plastic neutral by 2026.

Chairman and Managing Director Bernie Stefan said the milestone reflects the long-standing trust Sri Lankan consumers have placed in the company and the partnerships it has built across the country over generations.

By Sanath Nanayakkare

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Over a century of Business History goes to the National Archives

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At the symbolic handing over: Director General of the National Archives Department Dr. Nadeera Rupesinghe (L) and chairperson, Ceylon Chamber of Commerce Krishan Balendra.

The Ceylon Chamber of Commerce has formally handed over its historical records to the National Archives Department of Sri Lanka, placing over a century of the nation’s commercial history into the care of the country’s official custodians of heritage.

The historical archive being handed over spans from the Chamber’s founding in 1839 to 1973, and includes correspondence, meeting minutes, reports, ledgers, and publications that chronicle the development of trade, enterprise, and industry in Sri Lanka. Together, these records provide a rare and detailed account of how the island’s economy evolved and how its business community helped shape national progress.

The Ceylon Chamber of Commerce was established on 25 March 1839 on the principle that the interests of commerce and trade are best advanced when merchants unite and cooperate in matters affecting the common good. At the time, Ceylon was among the earliest regions in Asia to establish a chamber of commerce, alongside counterparts in Bengal, Bombay, Madras, Canton, Penang, and Singapore.

From its earliest years, the Chamber played a central role in organising and guiding trade. It played a central role in establishing and growing the export economy built on commodities such as coffee, cinnamon, coconut oil, tea, and rubber, and hosted the island’s renowned tea and rubber auctions. It also developed rules and standards for trading practices, helping create an environment of trust and reliability that enabled Sri Lanka’s commerce to thrive.

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