Colombo Stock Exchange (CSE) achieved a significant milestone on January 23, 2026
The Colombo Stock Exchange (CSE) achieved a significant milestone on January 23, 2026, when its benchmark All Share Price Index (ASPI) crossed the 24,000-point level for the first time during intraday trading, reflecting strong investor confidence and market momentum.
Key Facts About the Milestone
· What Happened: The ASPI touched the 24,000-point level for the first time in history.
· When: During intraday trading on January 23, 2026 (around 1:20 p.m.).
· Closing Level: The index closed at a then-record high of 23,956.51 points.
· Intraday High vs. Close: The index touched 24,000 during the day but closed just below that mark.
Details of the Trading Session
Here is a summary of the key market data from the session where the milestone was reached:
All Share Price Index (ASPI)
· Gain: +142.74 points
· Percentage Change: +0.60%
· Closing Level: 23,956.51 points (new record high)
S&P SL20 Index
· Gain: +31.65 points
· Percentage Change: +0.48%
· Closing Level: 6,649.50 points
Market Activity
· Total Turnover: LKR 10.5 billion
· Shares Traded: 258.95 million
· Market Breadth: 126 gainers vs. 95 decliners
Top Contributing Stocks
Leading the gains were LOLC Holdings,Colombo Dockyard, Commercial Bank, Browns Investments, and Melstacorp. The Capital Goods sector was the most active, led by heavy trading in Colombo Dockyard PLC, which alone contributed over LKR 2.1 billion to the day's turnover.
What's Driving the Market?
Several key factors are supporting the CSE's strong performance:
· Earnings Season Momentum: Positive corporate earnings reports are boosting investor optimism.
· Macroeconomic Improvement: Better national economic data is reinforcing a positive outlook for equities.
· Strong Domestic Confidence: Local investors are the primary drivers, accounting for 93% of total market turnover in 2025.
· International Outreach: Officials are actively promoting investment opportunities abroad. At a recent forum in Dubai, CSE directors highlighted that the market was the third best-performing in Asia in 2025, with the ASPI growing 42% for the year.
Market Outlook and Sustainability
The record-breaking performance appears to be supported by strong fundamentals.
· Attractive Valuations: The CSE Director noted that the market remains highly undervalued compared to regional peers, with a price-to-earnings ratio of 10.7 times, making it the second cheapest in the region.
· Supportive Policies: Sri Lanka's zero capital gains tax regime for stocks enhances the market's appeal to investors.
· Economic Recovery: The Central Bank Governor stated the economy is picking up momentum, with growth potential of 5-7%.
The breach of the 24,000-point level is a psychological milestone that underscores a period of significant recovery and growing confidence in Sri Lanka's capital market.
