CSE posts modest gain but 3.8% down so far in March

Saturday, 15 March 2025 00:11 - - {{hitsCtrl.values.hits}}

The Colombo stock market managed to eke out a gain yesterday though closing negatively for the week and losing 3.8% so far in March fuelled by profit taking.

The benchmark ASPI yesterday gained by 30 points or 0.1% and the active S&P SL20 by 15 points or 0.3%. For the week the ASPI was down by 1.6% and S&P SL20 by 1.5%.

Turnover yesterday was Rs. 792.5 million, far below the average of Rs. 1.7 billion for the week.

First Capital said the Colombo bourse experienced a dull trading session with the ASPI on a standstill, although slight volatility persisted, as the market began on a positive note before the trend reversed, reporting a marginal decline to close the day at 15,860.

HNW participation was significantly low while retail investors remained moderately active. HNB, NDB, BUKI, CTHR and AEL emerged as the top negative contributors to the index. The turnover marked a 63.7% decrease from the monthly average. The Food, Beverage & Tobacco sector was the most significant contributor to the overall turnover with a 28% share, followed by the Banking sector at 20% and the Capital Goods Sector at 18%.

Asia Securities said HHL (+1.7%), DIST (+1.2%), and HAYL (+0.7%) closed higher, while BIL (-1.3%), SUN (-1.0%), and HNBN (-0.7%) ended in red during the session. SPEN (+7 points) and SAMP (+5 points) were the major index movers, while HNBN (-6 points) and NDB (-5 points) were the biggest laggards on the ASPI. The market breadth was negative, with 86 price gainers and 108 decliners.

Turnover was led by AGPL (Rs. 103 million), HNBN (Rs. 95 million), and HAYL (Rs. 71 million).

Foreigners recorded a net inflow of Rs. 91 million. Net foreign buying topped in LION at Rs. 44.1 million and selling topped in SUN at Rs. 5.3 million.

NDB Securities said high net worth and institutional investor participation was noted in Agarapatana Plantations, Lion Brewery and Distilleries. Mixed interest was observed in Hatton National Bank, Hayleys and Hemas Holdings whilst retail interest was noted in Industrial Asphalts, HNB Finance Rights and Hela Apparel Holdings.

The Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Agarapatana Plantations) whilst the sector index lost 0.30%. The share price of Agarapatana Plantations increased by 10 cents to Rs. 13.30.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank and Sampath Bank) whilst the sector index decreased by 0.13%. The share price of Hatton National Bank lost Rs. 2.25 to Rs. 306.50. The share price of Sampath Bank appreciated by 75 cents to Rs. 120.75.

Hayleys and Hemas Holdings were also included amongst the top turnover contributors. The share price of Hayleys moved up by one Rupee to Rs. 137.50. The share price of Hemas Holdings recorded a gain of Rs. 2 to Rs. 121.50.