News Today: CSE Continues Upward Momentum

The CSE continues upward momentum, achieving another milestone as the All Share Price Index (ASPI) surged past the 17,500 mark. On June 12, the ASPI closed at 17,657.60, reflecting a strong gain of 157.36 points or 0.90%. The S&P SL20 Index also showed impressive growth, ending the day at 5,286.16, up 77.21 points or 1.48%.

Total market turnover stood at LKR 5.681 billion, with 283.045 million shares changing hands. Investor sentiment remained bullish, as indicated by the market breadth: 126 gainers outpaced 87 losers, further supporting the positive trajectory of the ASPI.

John Keells Holdings PLC (JKH.N) was the top contributor to the index, adding 23.19 points, followed by other key movers. On the other hand, Ceylinco Insurance PLC (CINS.N) acted as the biggest drag, pulling the index down by 7.98 points.

Sector-wise, Capital Goods led the turnover, contributing approximately LKR 1.37 billion, which is close to 25% of the day’s total activity. Notably, crossing transactions made up LKR 662.46 million, around 12% of turnover, with the largest crossing recorded in Royal Ceramics Lanka (RCL.N), involving LKR 193.117 million for 4.89 million shares.

From the macroeconomic front, the Public Utilities Commission of Sri Lanka (PUCSL) has approved a 15% electricity tariff hike, effective June 12. The move follows a request from the Ceylon Electricity Board (CEB), which had proposed an 18.3% increase citing operational costs and debt repayments. The PUCSL approved a lower hike to balance public interest and financial sustainability.

This bullish market performance, alongside critical policy updates, reflects growing investor confidence and sectoral strength in Sri Lanka’s economy.