CSE reverts to negative territory

Saturday, 29 March 2025 01:01 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday reverted to negative territory amidst low turnover reinforcing the lack of conviction among investors.

The benchmark ASPI declined by 67 points or 0.4% and the active S&P SL20 by 0.5%. Turnover was Rs. 1.65 billion involving 53 million shares.

First Capital said the bourse relapsed into stagnation following Thursday’s mild upward movement.

The index inched down during the early hours of trading and remained griped by intense volatility throughout the day. HNB emerged as the counter that exerted the most adverse pressure on the ASPI, driven by a surge in selling activity due to its ex-dividend date falling yesterday. MELS, BUKI, DIAL and CTC also emerged as significant negative contributors. On the other hand, SAMP, RICH, HAYL, HHL and SUN stood out as the top positive contributors to ASPI.

The Banking sector dominated contributions to turnover with a share of 37%. This was followed by the Capital Goods and Food, Beverage and Tobacco sectors which produced a joint contribution of 40%. Finally, foreign investors were net sellers with a net outflow of Rs. 48.2 million.

NDB Securities said high net worth and institutional investor participation was noted in Lankem Ceylon, Commercial Bank and Richard Pieris & Company. Mixed interest was observed in

Sampath Bank, John Keells Holdings and Hatton National Bank whilst retail interest was noted in Nation Lanka Finance, LOLC Finance and Hela Apparel Holdings.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank, Sampath Bank and Hatton National Bank) whilst the sector index lost 0.92%.

The share price of Commercial Bank decreased by 25 cents to Rs. 147.50. The share price of Sampath

Bank moved up by 50 cents to Rs. 122.50. The share price of Hatton National Bank recorded a loss of

Rs 9.75 to Rs. 305.00.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and Lankem Ceylon) whilst the sector index increased by 0.21%. The share price of John Keells Holdings closed flat at Rs. 20.20. The share price of Lankem Ceylon appreciated by Rs. 2.40 to Rs. 86.90

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