CSE begins June extending gains enjoyed in May

Tuesday, 3 June 2025 02:04 - - {{hitsCtrl.values.hits}}

The Colombo stock market began the month of June on a positive note, extending the gains enjoyed in May.

The benchmark ASPI gained by 0.74% or 125 points and the active S&P SL20 by 1%. Turnover was Rs. 5.8 billion involving 363.4 million shares. However, foreigners turned aggressive with net selling of nearly Rs. 3 billion.

Turnover yesterday was led by Access Engineering (Rs. 712 million), Capital Alliance Holdings (Rs. 493 million), Panasian Power (Rs. 269 million), Commercial Credit (Rs. 237 million), and Alpha Fire Services (Rs. 234 million).

The Colombo Stock Exchange in May achieved its best-ever performance in eight months thanks to a rebound in bullish investor sentiments. May saw the benchmark ASPI gaining by 6.68%, the highest since October 2024’s 7.7% jump. The active S&P SL20 in May shot up by 7.28%, also the highest since October 2024’s 12% increase.

First Capital said the market opened on an upbeat tone and maintained its upward momentum throughout the session, experiencing minor fluctuations in the latter part before closing firmly in positive territory. The rally was primarily driven by strong performances in key Banking sector stocks, including SAMP, DFCC, NDB, and HNB, along with support from AEL.

Investor sentiment remained buoyant, with active participation from retail investors.

Interest from HNW investors was observed in counters such as AFS, JKH, and SDF. Turnover was 42% higher in comparison to the monthly average. The Capital Goods sector led the day’s turnover, accounting for 30% of the total, followed by the Diversified Financials and Banking sectors, which together contributed 37%. Foreign investors continued to adopt a cautious stance, recording a net outflow of Rs. 2.7 billion.

NDB Securities said high net worth and institutional investor participation was noted in Alpha Fire Services PLC, John Keells Holdings, and Commercial Credit & Finance. Mixed interest was observed in Access Engineering, Capital Alliance Holdings, and Panasian Power, whilst retail interest was noted in Lanka Credit and Business Finance, Singhe Hospitals, and Hela Apparel Holdings.

The Capital Goods sector was the top contributor to the market turnover (due to Access Engineering and Alpha Fire Services PLC), whilst the sector index gained 1.01%. The share price of Access Engineering increased by Rs. 3.60 to Rs. 42. The share price of Alpha Fire Services PLC appreciated by Rs. 2.60 to Rs. 13.10.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Capital Alliance Holdings and Commercial Credit & Finance), whilst the sector index increased by 1.06%. The share price of Capital Alliance Holdings gained Rs. 0.70 to Rs. 17.70. The share price of Commercial Credit & Finance recorded a gain of Rs. 3.80 to Rs. 77.60.

Panasian Power was also included amongst the top turnover contributors, with its share price gaining Rs. 1.40 to Rs. 15.50.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.