Petrol price reduction boosts ASPI

The All Share Price Index (ASPI) experienced a modest 0.11 percent increase on Tuesday, propelled by a reduction in petrol prices across certain fuel categories, according to data from CSE. Despite ongoing tensions in the Middle East, the market showed resilience, with the ASPI closing at 21,338.84, up 22.93 points from the previous day, while the more liquid S&P SL20 Index also rose by 0.22 percent, or 13.03 points, to 6,018.37.

Trading volume reached Rs 1.014 billion, with capital goods leading the gains, accounting for Rs 300.64 million.

Two notable stock crossings occurred during the session: Access Engineering saw 1 million shares traded, crossing at Rs 75, while Sierra Cables experienced 850,000 shares changing hands at Rs 36.70. In the retail sector, several companies contributed significantly to the trading activity, including Sierra Cables (Rs 77 million from 2 million shares), Brown’s Investments (Rs 68 million from 13.3 million shares), CCS (Rs 60 million from 494,000 shares), Citizens Development Bank (Rs 30 million from 866,000 shares), Overseas Realty (Rs 27 million from 513,000 shares), Sampath Bank (Rs 26 million from 185,000 shares), and Commercial Credit and Finance (Rs 24 million from 217,000 shares).

Key positive drivers for the ASPI included Browns Investments (up 8.16 percent to Rs 5.30), Carson Cumberbatch (up 4.13 percent to Rs 749.50), Windforce (up 4.63 percent to Rs 40.70), JKH (up 0.51 percent to Rs 19.90), and DFCC Bank (up 0.99 percent to Rs 128.00). Conversely, Vallibel One, Melstacorp, and Hatton National Bank were the top negative contributors, with the latter three declining between 0.33 percent and 2.64 percent.

Ceylon Land & Equity announced a proposed first and final scrip dividend of Rs 0.043 per ordinary share for the financial year ending March 31, 2026, contingent upon shareholder approval at the upcoming Annual General Meeting on September 23, 2026. This dividend would involve issuing 4,553,230 new shares at Rs 8.70 each, capitalizing Rs 39.61 million. Shares of Ceylon Land & Equity closed down 1.16 percent at Rs 8.50.

Maharaja Foods also announced a final scrip dividend of Rs 0.10 per share, after deducting a 15 percent withholding tax, the net dividend would be satisfied by issuing 730,468 new shares at Rs 16.00 each. Shares of Maharaja Foods rose 0.61 percent to Rs 16.50. The rupee traded at Rs 327.68/75 to the US dollar, showing a stronger position compared to Friday's level of Rs 327.98/328.04. Bond yields remained stable, while telegraphic transfer rates and exchange rates for major currencies were also provided in the report.