Colombo stock market closes flat despite improved turnover

Wednesday, 26 March 2025 00:04 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday closed flat despite improved investor sentiment and activity.

The benchmark ASPI declined by 4 points and the active S&P SL20 by 1 point. Turnover was Rs. 2.9 billion involving 78.4 million shares. Turnover was led by Sampath Bank (Rs. 1.2 billion), JKH (Rs. 275 million), Ceylon Cold Stores (Rs. 131 million), HNB (Rs. 120 million) and Browns Investments (Rs. 100 million).

First Capital said while turnover was elevated, the number of trades were lower, indicating that much of the activity was driven by large transactions.

The highest turnover was solely contributed by HNW investors due to several crossings. The market showed volatility during the day, with an initial rise in the morning hours, followed by a decline. This downturn was primarily due to CINS, which led to a reduction in market gains. The negative contributors included CINS, LOLC, HNB, DFCC, DIPD. The Banking sector was the key contributor to the overall turnover, accounting for 52%, followed by the Capital Goods and Food, Beverage and Tobacco sectors, which jointly made up 26%. Foreign investors remained net sellers, with a net outflow of Rs. 122 million.

NDB Securities said crossings were witnessed in Sampath Bank, John Keells Holdings, Hatton National Bank accounting for 54.7% of the turnover. Mixed interest was observed in Ceylon Cold Stores, Swisstek and Lanka IOC whilst retail interest was noted in Hela Apparel Holdings, SMB Leasing and LOLC Finance.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank and Hatton National Bank) whilst the sector index lost 0.20%. The share price of Sampath Bank closed flat at Rs. 121.75. The share price of Hatton National Bank recorded a loss of Rs. 2.25 to Rs. 315.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index edged down by 0.04%. The share price of John Keells Holdings lost 10 cents to Rs. 20.30.

Ceylon Cold Stores and Browns Investments were also included amongst the top turnover contributors. The share price of Ceylon Cold Stores moved up by Rs. 1.90 to Rs. 81.20. The share price of Browns Investments appreciated by 10 cents to Rs. 7.50.

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