Colombo Stock Exchange rises following Sri Lanka credit rating upgrade

The Colombo Stock Exchange experienced a surge in activity following Fitch Ratings’ decision to upgrade Sri Lanka’s sovereign credit rating from CCC+ to B-. The All Share Price Index rose 75 points to close at 21,054.01, with turnover reaching LKR 1.4 billion. The Capital Goods sector led turnover at 25%, followed by the Materials and Banking sectors. Despite the market rebound, foreign investors remained net sellers, with an outflow of LKR 62.1 million.

In a separate initiative to bolster small and medium-sized enterprises (SMEs), the Colombo Stock Exchange, the Securities and Exchange Commission of Sri Lanka, and the Institute of Chartered Accountants of Sri Lanka held issuer forums in Anuradhapura and Jaffna. These sessions focused on raising awareness regarding capital market opportunities, Initial Public Offerings (IPOs), and alternative funding options to help SMEs scale and improve financial management.