CSE ends first week of March negatively

Saturday, 8 March 2025 00:25 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended the first week of March with losses amidst lacklustre and bearish investor sentiments.

During the week, the benchmark ASPI lost 2.2% and the active S&P SL20 declined by 2.5%. Average daily turnover was Rs. 2.73 billion. Yesterday, the ASPI declined by over seven points and the S&P SL20 by nine points. Turnover was Rs. 2.18 billion involving 67.6 million shares.

First Capital said the Colombo bourse saw little change from Thursday (6) with a slight dip in both the ASPI and turnover. The index exhibited visible volatility, experiencing a steep drop in the early hours, followed by a recovery that the ASPI managed to maintain throughout the day despite continued fluctuations.

Ultimately, the ASPI ended in red at 16,115, marking a modest dip of approximately eight points. LLUB, SAMP, LOLC, DFCC, and COMB were the primary negative contributors to the index, while MELS, HHL, and HNB emerged as the top positive movers.

The Capital Goods sector dominated turnover contributions, accounting for 56%, while the Banking and Food, Beverage, and Tobacco sectors collectively contributed 24%.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Hemas Holdings, and R I L Property. Mixed interest was observed in Hayleys, Sampath Bank, and Melstacorp, whilst retail interest was noted in HNB Finance voting and nonvoting and Browns Investments.

The Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings, John Keells Holdings, and Hayleys) whilst the sector index edged up by 0.03%. The share price of Hemas Holdings increased by Rs. 3 to Rs. 120.75. The share price of John Keells Holdings closed flat at Rs. 21. The share price of Hayleys recorded a loss of Rs. 0.50 to Rs. 140.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index decreased by 0.13%. The share price of Sampath Bank declined by Rs. 1.25 to Rs. 120.50.

R I L Property was also included amongst the top turnover contributors, with its share price declining by Rs. 0.10 to Rs. 15.

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