The Colombo Stock Exchange closed higher on Monday, with the benchmark All Share Price Index (ASPI) gaining 435.13 points, or 1.98%, to settle at 22,364.77. The more liquid S&P SL20 index rose 1.95% to 6,179.10.
Dialog Axiata was the single biggest contributor to the day’s advance, climbing 6.97% to Rs. 39.90, followed by Commercial Bank, up 1.60% at Rs. 206.25, and John Keells Holdings, up 1.50% at Rs. 20.30. Among the decliners weighing on the index were hSenid Business Solutions, down 6.42%, Dipped Products, off 1.90%, and Richard Pieris, down 1.54%.
Market turnover reached Rs. 2.43 billion. The Capital Goods sector led activity with Rs. 366.3 million, followed by Food, Beverages and Tobacco at Rs. 359.6 million, according to EconomyNext.
“Market was up similar to Friday, because there was a bit of rupee stabilisation and rates went down, and confidence was seen from investors,” said First Capital Chief Research and Strategy Officer Dimantha Matthew.
The rebound follows a turbulent stretch for local markets and comes after the rupee’s sharp recovery last week, when it posted Asia’s best single-day gain. Investors are now watching the Central Bank’s policy rate decision due on May 26 for the next direction.
