Colombo stock market turns negative

Thursday, 20 February 2025 02:03 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday closed negatively amidst relatively low investor activity.

The benchmark ASPI declined by 0.7% and the active S&P SL20 by 0.8%. Turnover was a low Rs. 3.7 billion involving 134.5 million shares.

First Capital said the stock market registered noteworthy volatility throughout the session, particularly during the early hours. The ASPI remained above the 17,000 mark, despite a dip of 120 points compared to Tuesday (18). Consequently, the ASPI concluded the session in the red at 17,074. BUKI, SEMB, and SINS stood out as the top positive contributors to the ASPI, while CTC, SAMP, NDB, COMB, and HAYL emerged as the top negative contributors.

Turnover dipped accompanied by lower volumes compared to Tuesday’s session. This translates to turnover remaining 35.8% below the monthly average of Rs. 5.8 billion. The Banking sector dominated contributions to turnover at 30%. This was followed by the Capital Goods and Telecommunication Services segments, which produced a joint contribution of 35%.

Foreign investors remained net buyers as the stock market saw an inflow of Rs. 307 million.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Bank, LOLC Holdings, and John Keells Holdings. Mixed interest was observed in Dialog Axiata, Hemas Holdings, and Hatton National Bank, whilst retail interest was noted in People’s Leasing & Finance, Ceylon Land & Equity, and LOLC Finance. The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Hatton National Bank) whilst the sector index lost 0.92%. The share price of Commercial Bank lost Rs. 1.50 to Rs. 150.25. The share price of Hatton National Bank recorded a loss of Rs. 1.75 to Rs. 339.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings and John Keells Holdings) whilst the sector index decreased by 0.82%. The share price of Hemas Holdings moved down by Rs. 1 to Rs. 122. The share price of John Keells Holdings declined by Rs. 0.10 to Rs. 22.20.

Dialog Axiata was also included amongst the top turnover contributors, with its share price closing flat at Rs. 14.

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