CSE announces constituent change in S&P Sri Lanka 20 Index 

The Colombo Stock Exchange (CSE) on Friday announced changes to the S&P Sri Lanka 20 index constituents as part of the 2024 Year-End Rebalance, conducted by S&P Dow Jones Indices. 

The exclusion is CIC Holdings, whereas inclusions are Ceylon Cold Stores, Commercial Bank of Ceylon (Non voting), and Hatton National Bank. 

The exclusions and inclusions, as announced by S&P Dow Jones Indices, will take effect from today (23 December), following the market close on 20 December 2024. 

The S&P SL 20 index includes the 20 largest companies, by total market capitalisation, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. 

The constituents are weighted by float-adjusted market capitalisation, subject to a single stock cap of 15 percent, which is employed to reduce single stock concentration. 

The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world. 

To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalisation of Rs. 500 million, a six-month median daily value traded of Rs. 0.25 million and a positive net income over the 12 months prior to the rebalancing reference date.