CSE opens new week on mixed note

Tuesday, 25 March 2025 04:33 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday began a fresh week on a mixed note amidst relatively low investor activity.

The benchmark ASPI gained by 33 points or 0.2% whilst the active S&P SL20 declined by over 7 points or 0.1%. Turnover was Rs. 1.9 billion involving 35.7 million shares.

Turnover was led by crossings in HNBN (Rs. 339 million), COMBN (Rs. 207 million) and CICN (Rs. 184 million). Crossings accounted for 36% of turnover led by HNBN (Rs. 279.5 million) and CICN (Rs. 180 million).

First Capital said the increase in turnover as opposed to Friday’s (Rs. 1.6 billion) suggests stronger market sentiment, with crossings indicating significant contributions from HNW investors.

While the first half of the day saw a relatively stable market with less volatility, the second half witnessed some selling pressure, possibly due to profit-taking or cautious sentiment from investors. The positive contributors for the day included CTHR, HNB, SBD, TJL, PKME which helped to sustain the market’s upward momentum, and the negative contributors included BUKI, MELS, JKH, NDB, VONE. The Banking sector was the main contributor to the overall turnover with 44% share, followed by the Capital goods and Materials sector jointly accounting for 30%. Foreign investors remained net sellers, with a net outflow of Rs. 12.7 million.

Asia Securities said CCS (+0.8%), HNBN (+0.5%), and HHL (+0.4%) closed higher while AEL (-1.3%), LLUB (-1.1%), and MELS (-1.0%) ended in red during the session. The ASPI surged to an intra-day high of 15,995 (+116 points) primarily due to buying pressure on banking sector stocks by institutional investors and HNI before trending downwards as profit-taking by investors led to a decline in the index. Subsequently, the index declined to a low of 15,847 (-148 points) in midday trading. Nevertheless, the ASPI rebounded as heavyweight stocks gained traction at lower levels, reflecting continued investor interest. CTHR (+49 points) came in as the major index mover for the day while BUKI (-8 points) and MELS (-6 points) ended as the biggest laggards on the ASPI. The market breadth was positive, with 106 price gainers and 90 decliners.

Foreigners recorded a net outflow of Rs. 12.7 million. Net foreign buying topped in DIPD.N at Rs. 12.1 million and net selling topped in SAMP.N at Rs. 12 million.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, CIC Holdings and Hatton National Bank. Mixed interest was observed in Sampath Bank, Chevron Lubricants and Capital Alliance whilst retail interest was noted in Browns Investments, Hela Apparel Holdings and John Keells Holdings.

The Banking sector was the top contributor to the market turnover (due to Hatton National Bank, Commercial Bank and Sampath Bank) whilst the sector index edged up by 0.07%. The share price of Hatton National Bank increased by Rs. 1.50 to Rs. 317.25. The share price of Commercial Bank closed flat at Rs. 146. The share price of Sampath Bank recorded a loss of 25 cents to Rs. 121.75.

The Materials sector was the second highest contributor to the market turnover (due to CIC Holdings and Chevron Lubricants) whilst the sector index decreased by 0.18%. The share price of CIC Holdings closed flat at Rs. 118. The share price of Chevron Lubricants declined by Rs. 1.50 to Rs. 137.

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