Sri Lankan Shares Gain Over 1% on Strength in Real Estate, Energy and Healthcare Stocks

May 12: Sri Lanka's stock market closed higher supported by gains in real estate, energy and healthcare counters. The CSE All Share Index rose 1.1% as investor activity improved sharply compared to the previous session.

Top Performers

Among the top performers on the benchmark index were Industrial Asphalts (Ceylon) PLC and SMB Finance PLC. Industrial Asphalts (Ceylon) PLC surged 40 per cent, while SMB Finance PLC advanced 37.5 per cent, making them the biggest percentage gainers during the session.

Market Activity and Turnover

Market activity strengthened considerably compared to the previous trading day. Trading volumes increased to 514.5 million shares from 377 million shares, indicating renewed investor participation. The overall turnover rose to INR 5.28 billion Sri Lankan rupees (USD 16.4 million) from INR 4.13 billion Sri Lankan rupees in the previous session.

Investor Participation Trends

Investor activity remained mixed between foreign and domestic participants. Foreign investors remained net sellers during the session, offloading stocks worth INR 269.8 million Sri Lankan rupees. At the same time, domestic investors stayed actively positive, purchasing shares worth INR 5.03 billion Sri Lankan rupees.

Market Outlook

Sri Lanka's equity market has seen phases of volatility over the past year amid economic recovery efforts, inflation management measures and currency-related concerns. However, improving local participation and sector-specific buying have continued to support market momentum in recent sessions.