As April arrives, Sri Lanka moves into a season shaped by renewal, reflection, and shared moments. Across the island, the rhythms of Avurudu return, with the sound of the raban, festive tables filled with sweetmeats and families coming together.

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A range of gift vouchers offers a simple way to share the spirit of Avurudu, whether through a restful stay, a dining experience, or a moment of indulgence to be enjoyed beyond the season.

The CSE saw a drop during midday trading yesterday but later recovered with an improvement in the market sentiment.

Initially the market indicated a downward trend mainly due to banking stocks sliding following the National Development Bank announcing a Rs 13.2 billion fraud within it that incurred a loss to the entity coupled with US President Donald Trump’s negative comments on the war situation.

Amid those developments both indices moved upwards. The All Share Price Index went up by 9.98 points while the S and P SL20 rose by 26.65 points.

Turnover stood at Rs 3 billion with three crossings. Those crossings were reported in Melstacorp, which crossed 4.76 million shares to the tune of Rs 809 million and its shares traded at Rs 170, Tokyo Cement 754,213 shares crossed to the tune of Rs 66.75 million; its shares traded at Rs 88.50 and JKH 3.35

million shares crossed tfor Rs 62.2 million; its shares sold at Rs 18.70.

In the retail market seven companies that mainly contributed to the turnover were; JKH Rs 245 million

(13.2 million shares traded), Sampath Bank Rs 132.6 million (914,000 shares traded), Tokyo Cement Rs 96.8 million (one million shares traded), LMF Rs 92 million (1.1 million shares traded), Prime Lands

Residencies Rs 92 million (1.8 million shares traded), Colombo Dockyard Rs 85.3 million (680,000 shares traded) and Commercial Bank Rs 79.8 million (400,000 shares traded). It is said that 82 million share volumes changed hands in 26226 transactions.

it is said that manufacturing sector counters, especially JKH, led the market while banking sector counters also performed well. Real estate sector and its related counters, especially Prime Lands Residencies and Tokyo Cement, performed well too.

The All Share Price Index was down 0.34 percent, or 70.94, at 21,046.48.

The S&P SL20 was down 0.30 percent, or 17.87, at 5,857.82.

Yesterday the rupee was quoted at Rs 315.35/55 to the US dollar in the spot market, from Rs 315.20/60 last Thursday before the long weekend, dealers said, while bond yields were broadly steady.

A bond maturing on 15.03.2028 was quoted at 9.45/55 percent.

A bond maturing on 15.12.2029 was quoted at 9.95/10.00 percent.

A bond maturing on 01.03.2030 was quoted flat at 10.00/05 percent.

A bond maturing on 15.03.2031 was quoted flat at 10.05/15 percent.

A bond maturing on 01.06.2033 was quoted flat at 11.00/10 percent.

By Hiran H Senewiratne

As geopolitical tensions in the Middle East continue to unsettle global energy and trade flows, Sri Lanka appears to be finding a degree of resilience by deepening economic engagement with partners such as Russia and the United Kingdom.

Recent diplomatic and trade developments suggest Colombo is positioning itself to benefit from both energy cooperation with Moscow and expanded export opportunities in the British market, potentially softening the impact of external shocks on its fragile economy.

During talks in Colombo last week, Foreign Minister Vijitha Herath met visiting Russian Deputy Foreign Minister Andrey Rudenko, with both sides reaffirming their commitment to strengthening bilateral ties.

Rudenko has described the island as a long-standing friend of Russia and pledged support in several key areas, including oil supplies, investment promotion, and tourism cooperation.

The assurance of energy support comes at a time when global oil markets remain volatile due to geopolitical tensions and shifting sanctions regimes. Russia indicated it was prepared to assist Sri Lanka with oil supplies if needed, though Rudenko earlier clarified at a policy discussion that Moscow prefers long-term contractual supply arrangements rather than short-term spot deals arising from temporary market disruptions.

For Sri Lanka, which has faced severe fuel shortages in the recent past, such arrangements could offer greater stability in energy procurement during periods of global uncertainty.

Russia also signalled interest in encouraging its investors to explore opportunities in Sri Lanka and increasing tourist arrivals, while expressing readiness to provide compensation for Sri Lankan war veterans who lost their lives while serving in Russia’s war against Ukraine.

Colombo, in turn, emphasized the historic nature of the relationship. Herath noted that the two countries share nearly seven decades of diplomatic ties, adding that the current moment presents an opportunity to expand cooperation through longer-term trade and economic agreements.

While Russia offers potential relief on the energy front, Sri Lanka is simultaneously gaining a competitive edge in exports through new trade arrangements with Britain.

Under the revised Developing Countries Trading Scheme (DCTS) introduced by the United Kingdom in January 2026, Sri Lanka’s apparel sector – the country’s largest export industry – stands to benefit significantly.

The scheme eases rules of origin requirements, allowing exporters greater flexibility in sourcing raw materials while still maintaining preferential access to the UK market. For Sri Lankan manufacturers, particularly small and medium-sized enterprises, this change addresses a longstanding constraint that had limited their ability to compete with larger regional producers.

Industry participants say the reform could improve pricing competitiveness, shorten production lead times, and allow exporters to respond more effectively to the fast-moving demands of global apparel buyers.

Apparel exporter Joe Jayawardena noted that while the scheme provides duty concessions for developing economies, its most valuable feature is the commercial flexibility it offers producers. With more freedom in sourcing fabrics and inputs, Sri Lankan exporters can negotiate more effectively on price, delivery schedules and product specifications – factors that often determine whether orders are secured in the global fashion supply chain.

For Sri Lanka’s economy, the convergence of these developments could provide a modest but important buffer against global turbulence.

Energy cooperation with Russia may help stabilise supply during volatile periods, while enhanced access to the British market could strengthen export momentum in one of Sri Lanka’s most important trading sectors.

An independent economic analyst told this reporter that the offers coming from both countries would be widely welcomed in Sri Lanka, as they are driven primarily by mutual trade interests rather than by deeper strategic or political considerations.

By Sanath Nanayakkare