ASPI Breaks 19,000 Barrier for First Time in History!

COLOMBO (News 1st); The Colombo Stock Exchange witnessed an upward trend, with the All Share Price Index (ASPI) reaching a historic milestone today.

For the first time in history, the ASPI surpassed the 19,000 mark, recording 19,057 points at approximately 9:43 AM this morning.

By the end of trading today, the All Share Price Index (ASPI) at the Colombo Stock Exchange stood at 18,946.27 points.

The S&P Sri Lanka 20 Index recorded a value of 5,700.54 points.

Today’s market turnover amounted to Rs. 9.1 billion.

According to data from the Colombo Stock Exchange, the total market turnover in recent months has already surpassed the entire turnover recorded last year.

“Last year’s total turnover was Rs. 537.64 billion. So far this year, we’ve already recorded Rs. 539 billion. The ASPI has shown an 18% growth this year, indicating a very positive trend in the market,” said Niroshan Wijesundara Deputy Chairman (Sales) at the Colombo Stock Exchange.

Since October last year, the ASPI has shown consistent growth.

Although there was a slight dip in April, the index has since resumed its upward trajectory.

The S&P Sri Lanka 20 Index, which includes the top 20 companies, has mirrored this positive trend.

The All Share Price Index (ASPI) has surged more than 69% since September 2024, with a sharp 21% gain in the last three months alone, according to Sajed Nazar, Analyst – Research at Capital Alliance Holdings Limited. The index is now rapidly approaching the 20,000 mark, aligning with projections made by market analysts.

Nazar attributes this remarkable rally to a combination of favorable economic conditions and investor sentiment. “Interest rates have dropped sharply due to central bank easing,” he explained. “This has reduced returns on deposits, pushing investors toward equities. Lower rates are also fueling corporate investments and boosting earnings.”

The broader macroeconomic recovery is also playing a key role. With inflation cooling, GDP growth improving, and business confidence rising, multiple sectors are showing stronger outlooks. Additionally, external risks have eased, including the de-escalation of the Middle East conflict and lower-than-expected tariffs—set at 30% instead of the anticipated 44%—which have enhanced Sri Lanka’s export competitiveness.

Despite the rally, Nazar notes that valuations remain attractive. “The ASPI is currently trading at a Price-to-Earnings Ratio (PER) of 8.8 times on forward earnings, well below the 10-year average of 10.7 times,” he said. With earnings expected to grow between 20–25%, reaching the 20,000 level is no longer a distant possibility—it’s becoming the base case scenario.