CSE hits fresh record high following sovereign rating upgrade

By Almas Equitie Research

The Colombo Stock Exchange (CSE) scaled to a new all-time high on Monday, supported by renewed investor optimism after S&P Global Ratings upgraded Sri Lanka’s foreign currency rating from SD/SD (Selective Default) to CCC+/C. The upgrade strengthened confidence in the country’s economic outlook, fueling broad-based market momentum. The ASPI sustained its upward trajectory, gaining 141.78 points (+0.67%) to close at 21,226.87, while the S&P SL20 rose 60.97 points (+1.02%) to 6,057.13.

Intraday volatility remained elevated, with the ASPI swinging 237.69 points between its open and session high.

Turnover stood at LKR 8.08 Bn, with crossings contributing LKR 1.58 Bn (19% of total turnover). The largest crossing by value came from COMB.N (LKR 489.64 Mn), while JKH.N registered the highest volume, with 10.20 Mn shares traded.

The Capital Goods sector dominated market activity, contributing 45% of overall turnover, primarily driven by SIRA.N, which generated LKR 1.77 Bn.

Market breadth was mixed, with 103 gainers against 116 decliners, underscoring selective buying despite strong turnover.

Index Movers:

Top positive contributors: JKH.N (+24.24 index points), CTHR.N, SFCL.N, COMB.N, and VONE.N.

Top negative contributors: SIRA.N (-11.66 index points), RICH.N, HAYL.N, RIL.N, and WIND.N.

Among notable trades, SIRA.N stood out with LKR 1.77 Bn in board trades, ranking as the day’s highest turnover counter, though it closed with a steep 14.53% price decline.