CSE manages to sustain positivism amidst low turnover

Saturday, 1 March 2025 00:04 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday managed to sustain positivism albeit with low turnover.

The benchmark ASPI gained by 48 points or 0.3% and the active S&P SL20 by 0.67%. Turnover was Rs. 1.7 billion involving 59 million shares.

First Capital said the Colombo Bourse saw Thursday’s sentiment largely persist throughout yesterday’s session, with the ASPI registering a mild uptick despite noticeable volatility. The index ended the day at 16,479, reflecting a modest gain of approximately 48 points.

While the ASPI started on a positive note and surged in the initial hours, it became increasingly volatile as the day wore on yet managed to end the day in the green. The Banking sector played a pivotal role in driving the index higher, with HNB, COMB, and SAMP standing out as the top positive contributors, followed by CTC and LLUB. On the flip side, CFIN, JKH, and DFCC emerged as the top three counters that exerted adverse pressure on the ASPI. Investor participation remained lacklustre, with turnover remaining dormant throughout the session.

While there was a slight uptick, turnover only reached Rs. 1.7 billion, diverging little from yesterday’s levels and continuing to lag behind the monthly average of Rs. 4.4 billion. The Banking sector led sector-wise turnover contributions, accounting for 45%, followed by the Capital Goods and Food, Beverage, and Tobacco sectors, which collectively contributed 27%.

NDB Securities said high net worth and institutional investor participation was noted in Commercial Bank, Hemas Holdings and Sampath Bank. Mixed interest was observed in Hatton National Bank, John Keells Holdings and Dialog Axiata whilst retail interest was noted in SMB Leasing nonvoting, Nation Lanka Finance and Industrial Asphalts.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank, Hatton National Bank and Commercial Bank) whilst the sector index gained 0.97%. The share price of Sampath Bank increased by Rs. 1.50 to Rs. 122.50. The share price of Hatton National Bank gained Rs. 6.25 to Rs. 324.75. The share price of Commercial Bank moved up by Rs. 2.50 to Rs. 148.50.

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 edged up by 0.02%. The share price of Hemas Holdings recorded a gain of 75 cents to Rs. 118.25. The share price of John Keells Holdings declined by 10 cents to Rs. 21.30.

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