CSE ends down 1.05% as Mideast war hits sentiment

Friday, 23 October 2026 04:26 - - {{hitsCtrl.values.hits}}

The Colombo stock market fell sharply yesterday to a more than 12-month low with investor sentiment dented by escalating tensions in the Middle East that drive oil prices above $ 112 to a five-month high.

With only 40 stocks closing on the up against 162 in red, the ASPI ended down 1.05% or 209.38 points at 19,717.92 and the active S&P SL20 fell 0.68% or 38.43 points to 5,618.48. The top contributors to the ASPI decline were DIST, HNB, DIAL, SINS and CARS.

Market turnover was over Rs. 1.1 billion on over 64.2 million shares traded and foreign investors emerged net buyers on a net inflow of over Rs. 39 million.

First Capital Research said negative sentiment gripped the CSE, with panic selling weighing on investor confidence and dragging the broader market lower. Amidst the prevailing selling pressure, heightened activity in blue-chip counters, including JKH and SUN, alongside crossings in SAMP and COMB, supported turnover which was below the monthly average, reflecting subdued participation from both retail and HNW investors amid heightened market uncertainty.

The banking sector accounted for the largest share of turnover at 23%, followed by the capital goods, and food, beverage and tobacco sectors, which jointly contributed 39%.

NDB Securities said mixed interest was observed in John Keells Holdings, Sunshine Holdings and Commercial Bank whilst retail interest was noted in Industrial Asphalts, Kerner Haus Global Solutions Rights and Browns Investments.

The banking sector was the top contributor to the market turnover due to Sampath Bank and Commercial Bank whilst the sector index lost 0.60%. The share price of Sampath Bank lost 50 cents to close at Rs. 138 and Commercial Bank declined 75 cents to Rs. 196.25.

Capital goods sector was the second highest contributor to the market turnover due to John Keells Holdings whilst the sector index decreased by 0.77%. John Keells Holdings closed flat at Rs. 17.60.

Sunshine Holdings and Commercial Credit and Finance were also included amongst the top turnover contributors. Sunshine Holdings moved down by Re. 1 to close at Rs. 27 and Commercial Credit and Finance fell 70 cents to Rs. 90.30.