CSE reverts back to losses amidst Rs. 1 b net foreign inflow

Thursday, 10 April 2025 06:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market’s strong revival on Tuesday was short lived as indices suffered a decline yesterday.

The benchmark ASPI was down 1.6% and the active S&P SL20 fell sharply by 2.4%. On Tuesday the indices gained over 3% and 4% respectively after suffering multiple year intraday loss on Monday with over Rs. 200 billion in value wiped out.

Turnover yesterday was Rs. 3 billion involving 102.5 million shares.

First Capital said the Colombo Bourse registered yet another downturn in the wake of heightened global tensions. Tuesday’s brief upswing was swiftly overshadowed by a selling sentiment, as the 44% tariff set by the US is expected to come into effect Wednesday as per the initial announcement. Even within the broader global context, markets plummeted, reflecting similar pessimism. The ASPI declined steadily during the early hours, with volatility persisting throughout the session. By the close, the index had dropped below the 15,000 mark, finishing at 14,876, a loss of 252 points, reflecting a 1.7% decline. The Banking sector remained the key pressure point on the ASPI, SAMP, COMB, and HNB leading the negative charge, alongside HAYL and JKH. This increase in turnover was largely driven by greater participation from HNW investors. The Capital Goods sector dominated contributions to turnover with a 36% share, followed closely by the Banking sector and the Transportation sector, which together contributed 49%. Asia Securities said notable price declines in PABC (-5.0%), SAMP (-3.0%), HNBN (-1.9%), and COMBN (-1.9%) were recorded during the session. Moreover, HAYL (-6.0%), DIPD (-4.7%), MGT (-4.1%), and CFIN (-4.1%) closed in the red, leading to a broad-based decline during the session.

HAYL (-23 points), SAMP (-22 points), and JKH (-19 points) were the major laggards of the index for the day. The market breadth was negative with 57 price gainers and 160 decliners.

A notable increase in foreign activity was observed in the market today, with a net foreign inflow of Rs. 1 billion led by JKH (Rs. 665 million).

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Hatton National Bank and Ambeon Capital. Mixed interest was observed in Digital Mobility Solutions Lanka, Commercial Bank and Sampath Bank whilst retail interest was noted in Tess Agro, SMB Leasing and Singhe Hospitals.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index lost 2.69%. The share price of John Keells Holdings decreased by 50 cents to Rs. 19.20.

The Banking sector was the second highest contributor to the market turnover (due to Commercial Bank, Hatton National Bank and Sampath Bank) whilst the sector index decreased by 2.21%. The share price of Commercial Bank moved down by Rs. 2.50 to Rs. 127.75.

The share price of Hatton National Bank recorded a loss of Rs. 5.25 to Rs. 275.25. The share price of Sampath Bank declined by Rs. 3.25 to Rs. 104. Digital Mobility Solutions Lanka was also included amongst the top turnover contributors with its share price declining Rs. 1.50 to Rs. 70.50.

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