CSE reverts to negative territory

Friday, 7 March 2025 04:49 - - {{hitsCtrl.values.hits}}

Wednesday’s sharp rebound was short-lived yesterday at the Colombo stock market as investors turned bearish.

The benchmark ASPI declined by 43 points or 0.27% and the active S&P SL20 by 0.1%. Turnover halved from Wednesday to Rs. 2.36 billion involving 83.8 million.

First Capital said the Colombo Bourse was gripped by a wave of volatility with the ASPI concluding the session in the red, having registered a marginal downtick from Wednesday. The ASPI surged to the 16,300 territory during the early hours of trading but dwindled soon after, showcasing heightened volatility and ending the day at 16,123, marking a dip of about 43 points.

CTC exerted noteworthy adverse pressure on the index, followed by MELS, HNB, CCS and BIL. On the other hand, HAYL, SEYB, DIAL, HHL and CARS stood out as the top positive contributors to the ASPI. The Capital Goods sector dominated turnover contributions, accounting for 41%, while the Banking sector and Food, Beverage and Tobacco collectively contributed 35%.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Jetwing Symphony and Sampath Bank. Mixed interest was observed in National Development Bank, Hatton National Bank and Central Finance Company whilst retail interest was noted in Marawila Resorts, Lanka Credit and Business Finance and Agarapatana Plantations.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.46%. The share price of John Keells Holdings increased by 10 cents to Rs. 21.

The Banking sector was the second highest contributor to the market turnover (due to National Development Bank, Hatton National Bank and Sampath Bank) whilst the sector index decreased by 0.27%. The share price of National Development Bank closed flat at Rs. 115.25. The share price of Hatton National Bank moved down by Rs. 1.75 to Rs. 312. The share price of Sampath Bank recorded a loss of 25 cents to Rs. 121.75.

Central Finance Company was also included amongst the top turnover contributors with its share price declining by 75 cents to Rs. 199.25.