CSE ends in green amid sharp foreign selling

Thursday, 23 April 2026 05:29 - - {{hitsCtrl.values.hits}}

The Colombo stock market ended in green yesterday for the second day after a volatile trading session which saw sharp early gains followed by a steady decline amid heavy foreign investor selling.

The ASPI ended up a marginal 0.06% or 14.33 points to 22,639.81 and the active S&P SL20 was down 0.14% or 8.62 points at 6,213.84. Market turnover was over Rs. 5.2 billion on 155.5 million shares traded.

Foreign investors were back as net sellers on a net out flow of Rs. 2.52 billion after being net buyers the previous day after a 21-day selling spree.

According to First Capital Research, net foreign selling was seen in Softlogic Life (Rs. 1.2 billion), Ceylon Tobacco (Rs. 891 million), and Hayleys Fabric Rs. 292.6 million). Softlogic Life led the total turnover with Rs. 1.5 billion (28.3%), supported by a significant crossing of Rs. 1.3 billion. The insurance sector accounted for the largest share of turnover at 34%, followed by the food, beverage and tobacco and banking sectors, which collectively contributed 32%.

It said the bourse remained largely flat amid reduced investor participation, influenced by mixed sentiment surrounding uncertainties over the unresolved US–Iran peace talks. Top positive contributors to the ASPI were CINS, CFIN, JINS, ACL, and MELS. Overall market sentiment remained subdued, with heightened participation from HNW investors, while retail activity stayed relatively muted.

Asia Securities Research said JINS (+9.0%), MGT (+2.3%), ACL (+1.9%) and NDB (+0.7%) closed higher while SCAP (-2.9%), BIL (-1.5%), DOCK (-1.3%), and COMBN (-0.1%) ended in red during the session. CFIN (+7 points) and JINS (+6 points) came in as the major index movers while HNBN (-7 points) and HAYL (-6 points) ended as the biggest laggards on the ASPI. The market breadth was positive, with 120 price gainers and 101 decliners.

Net foreign buying topped in CIC.N at Rs. 8.7 million while net foreign selling topped in AAIC.N (Softlogic Life) at Rs. 1.2 billion. Crossings accounted for 47.3% of turnover, led by AAIC.N (Rs. 1.3 billion), CTC.N (Rs. 890 million), and MGT.N (Rs. 154 million). Market P/E was 11.56.