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Colombo Stock Exchange ends week on a positive note

Colombo (LNW): The Colombo Stock Exchange (CSE) experienced positive investor sentiment following the successful conclusion of external creditors’ bilateral agreement with the government on external debt restructuring, The Island reported.

This optimism led to a notable improvement in banking sector counters as market analysts anticipated a potential upgrade in Sri Lanka’s Rating Agencies status from Restricted Default to a positive rate category.

Both indices, the All Share Price Index and S&P SL20, witnessed upward movement, with gains of 146.07 points and 50.5 points, respectively. The day’s turnover amounted to Rs 962 million, featuring three notable crossings.

Expolanka Holdings, Sampath Bank, and Lion Brewery were involved in these crossings, contributing to the positive market trend.

In the retail market, the top seven companies driving turnover included Sampath Bank (Rs 131.9 million with 1.9 million shares traded), Capital Alliance (Rs 55 million with 834,000 shares traded), Expolanka Holdings (Rs 47.5 million with 361,000 shares traded), JKH (Rs 44.5 million with 231,000 shares traded), NDB (Rs 37.9 million with 553,000 shares traded), NTB (Rs 35.7 million with 337,000 shares traded), and HNB (Rs 33.5 million with 196,000 shares traded). The banking sector counters played a significant role in contributing to the day’s turnover.

In total, 38.7 million shares changed hands in 9,700 transactions. The rupee opened at Rs 327.70/328.00 to the US dollar, showing a marginal change from the previous day’s rate of Rs 328.00/15.

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