CSE manages to achieve modest gain

Thursday, 20 March 2025 05:11 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday managed to close on the up amidst struggle.

The benchmark ASPI gained by 12 points and the active S&P SL20 by 19 points. Turnover was Rs. 1.25 billion involving 56.8 million shares.

First Capital said the market remained at a standstill as turnover reflected a relatively low level of market activity. Crossings were lower than Tuesday (18), indicating reduced participation from both retail and HNW investors despite the market’s positive movement.

The first half saw the ASPI surpassing 15,500, and 100 points higher, but this was followed by a dip in the midday session as profit-taking led to a sell-off, limiting gains to a 12-point increase by the close. The positive contributors for the day were COMB, HNB, MELS, NDB, and SAMP, whilst the negative contributors include LOLC, BIL, HHL, JKH, and CCS. The Capital Goods sector was the most significant contributor to the overall turnover with a 35% share, followed by the Banking, and Food, Beverage and Tobacco sectors jointly accounting for 36%.

Asia Securities said after two consecutive sessions of losses, the indices closed in the green, supported by price gains in COMBN (+1.8%), HNBN (+1.3%), SAMP (+0.8%), and CFIN (+0.7%). COMBN (+13 points), HNBN (+11 points), and MELS (+9 points) came in as the major index movers for the day. The market breadth was negative, with 88 price gainers and 100 decliners.

Turnover was led by JKH (Rs. 145 million), HNBN (Rs. 86 million), and BIL (Rs. 71 million).

Foreigners recorded a net inflow of Rs. 14.2 million. Net foreign buying topped in HNB.N at Rs. 14.8 million and net selling topped in HAYL at Rs. 8 million.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Hatton National Bank, and Access Engineering. Mixed interest was observed in Browns Investments, Hemas Holdings, and Commercial Bank, whilst retail interest was noted in SMB Leasing, Industrial Asphalts, and Waskaduwa Beach Resort.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Hemas Holdings) whilst the sector index lost 0.37%. The share price of John Keells Holdings decreased Rs. 0.10 to Rs. 20.10. The share price of Hemas Holdings recorded a loss of Rs. 2.50 to Rs. 115.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank and Commercial Bank) whilst the sector index increased by 1.08%. The share price of Hatton National Bank gained Rs. 3.75 to Rs. 303.75. The share price of Commercial Bank appreciated by Rs. 2.50 to Rs. 138.75.

Browns Investments was also included amongst the top turnover contributors, with its share price dipping Rs. 0.20 to Rs. 7.10.

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