Share your email and we'll share the latest news
Exclusive economic intelligence, political and business coverage
Thursday, November 5 2026
Thursday, November 5 2026
MONETABRIEF – Sri Lanka's stocks surged Thursday, rising over 1000 points over two days after the Republican defeat in the US midterms as punters bet on hopes of an end to the Middle East war and lower oil prices, analysts said.
Thursday's surge left Sri Lanka stock owners 218 billion richer with market capitalization at 7,618 billion rupees. From the day of Trump's defeat Sri Lanka stocks have risen 374 billion rupees.
Foreigners were net sellers on both days. Sri Lanka's rupee collapsed from 300 to 330 to the US dollar with most of it in the second quarter, while exchange rates remained rock solid in the war zone.
The central bank blamed it on an external shock, showing the deep flaws in its operational framework, it overt inflation bias and lack of accountability seen in the run up to the default seen in the third quarter of 2014, period before the external default, and lack of accountability, critics have said.
The Colombo All Share Index closed up 589.18 points at 21,130.3 points, rising 2.87 percent, on top of a 421 point gain a day earlier when President Trump lost control of both houses of the US Congress.
The S& P SL 20 index of more liquid stocks closed up 194.8 points at 6,029.88 points.
"Investors are hoping that oil prices will fall there will be a quick end to the Middle East war," an analyst said.
"The market had fallen for over 7 months in a steep correction and some stocks are down 50 to 70 percent from their highs.
"Even though inflation is up and hitting buying power, people are hoping that better times will come.
"There is not much selling pressure."
Turnover was 5.4 billion rupees. On Thursday 214 stocks gained to 30 losers.
Hatton National Bank closed at 375 rupees, up 4.75 rupees.
Commercial Bank closed at 206 rupees up 4.75 rupees.
Central Finance company closed at 220 rupees up 8.75 rupees.
Dipped Products PLC closed at 63 rupees up 2.10 rupees.
Hayleys PLC closed at 228 rupees up 7.25 rupees.
LOLC Holdings PLC closed at 401 rupees up 26.00 rupees.
Abans Electrical PLC closed at 1,013 rupees up 11.25 rupees.
Ceylinco Holdings PLC closed at 1,500 rupees up 39.75 rupees.
DFCC Bank PLC closed at 133 rupees up 8.25 rupees.
Nations Trust Bank PLC closed at 310 rupees up 9.25 rupees. (Colombo/Nov05/2026)
| 3 month bill | 9.26% | 1bp ▲ |
| 12-m bill | 9.95% | 2bp - |
| Gold (Ounce) | $4015 | - ▼ |
Comments
Be the first person to comment and join the debate