Colombo Bourse closes positive in September 2024

The Colombo Bourse closed positive in September 2024, with the benchmark All Share Price Index (ASPI) rising +9.1% MoM, while the more liquid S&P SL20 index increased +12.9% MoM. Average daily turnover increased to Rs. 1,653 million in September 2024 (vs. Rs.704 mn in August 2024).

According to CT CLSA Sri Lanka Monthly Report September Top contributors to monthly turnover were Hatton National Bank (HNB), Commercial Bank of Ceylon (COMB) and John Keells Holdings (JKH). Market witnessed a net foreign outflow of Rs. 638 mn in September 2024 (vs. an inflow of Rs. 83 mn in August 2024).

During the month, net foreign buying was seen in John Keells Holdings (JKH), Richard Pieris and Company (RICH), and Sampath Bank (SAMP). Whilst net foreign selling was seen in East West Properties (EAST), United Motors Lanka (UML) and Commercial Bank of Ceylon-Vot (COMB-N).

The Colombo Consumer Price Index (CCPI – Base year 2021) decreased by -0.2 points to 190.9 index points, while a deflation of -0.5% was recorded in September 2024 (vs. 0.5% in August 2024). Meanwhile, the LKR appreciated by +0.3% MoM to Rs. 299.35 against the USD.

The Monetary Policy Board of the Central Bank, at its meeting held on September 26, 2024, decided to maintain the Standing Deposit Facility Rate (SDFR), the Standing Lending Facility Rate (SLFR) and the Statutory Reserve Ratio (SRR) of the Central Bank at 8.25%, 9.25%, and 2.00%, respectively.

Source:Daily News