The Colombo Stock Exchange recorded a Rs. 401 billion gain in market capitalisation for the week ending April 10, with the All Share Price Index surging 4.78% — its strongest weekly performance in months — driven by a confluence of positive macro developments.
The ASPI closed Friday at 22,128.66, gaining 1,011.24 points over the five sessions. The S&P SL20 benchmark rose 4.71%. Friday’s session alone saw a 1.30% advance on turnover of Rs. 5 billion across 262 million shares traded.
Three events converged to fuel the rally. The US-Iran ceasefire announced Tuesday sent oil prices sharply lower and triggered an immediate market surge. The IMF staff-level agreement for Sri Lanka’s 5th and 6th reviews — worth approximately $700 million — followed on Wednesday. Thursday’s decisive defeat of the no-confidence motion against the Energy Minister (153-49) confirmed political stability under the NPP government.
Top contributors to the weekly gain included JKH, MELS, DIAL, NDB, and PKME. The diversified financials sector led turnover at 21% of total activity. Market breadth was strongly positive, with 195 stocks advancing against 53 declining on the final day.
Foreign investors remained net sellers, recording Rs. 76 million in outflows on Friday and Rs. 2 billion for the week — suggesting the rally was primarily driven by domestic institutional and retail buyers rather than foreign portfolio flows.
