CSE ends winning streak but turnover tops Rs. 7.6 b

Wednesday, 2 July 2025 00:07 - - {{hitsCtrl.values.hits}}

The five-day winning streak of the Colombo stock market ended yesterday though turnover topped the Rs. 7.6 billion mark.

The benchmark ASPI was down by 30 points and the active S&P SL by 9.5 points. Involving 679 million shares, turnover was Rs. 7.63 billion.

LOLC Finance (Rs. 3.3 billion including 550 million shares at Rs. 6 via a crossing), JKH (Rs. 313.5 million), Central Finance (Rs. 220 million), Panasian Power (Rs. 209.5 million) and Sampath Bank (Rs. 209 million).

First Capital said reversing from the positive sentiment of the previous day, the Colombo Bourse faced selling pressure as investors opted to book profits during the trading session. In the early hours of trading investors booked profits with the index experiencing a sharp decline, but the index gradually recovered, experiencing sideways movements. However, the ASPI ultimately failed to close in the green, halting at 17,997, down by 30 points. The Banking sector, including counters like HNB and NDB, exerted negative pressure on the index, along with CDB, CTHR and CARS.

Retail and high-net-worth investor participation remained strong, with turnover up 55% from the monthly average. Notably, 1.7% of LOFC’s stake was traded through an off-board transaction at Rs. 6 per share, generating a turnover of Rs. 3.3 billion. The Diversified Financials sector was the top contributor to today’s turnover, accounting for a share of 55%. This was followed by the Capital Goods and the Banking sectors, which produced a joint contribution of about 20%. Foreign investors remained net sellers, with a net outflow of Rs. 3.4 billion.

NDB Securities said crossings were witnessed in LOLC Finance, LB Finance and Sampath Bank accounting for 49.5% of the turnover. Mixed interest was observed in John Keells Holdings, Panasian Power and Central Finance Company whilst retail interest was noted in C. W. Mackie, Kapruka Holdings and Hela Apparel Holdings.

The Diversified Financials sector was the top contributor to the market turnover (due to LOLC Finance and Central Finance Company) whilst the sector index edged up by 0.01%. The share price of LOLC Finance closed flat at Rs. 6. The share price of Central Finance Company moved up by Rs. 5.25 to Rs. 269.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.45%. The share price of John Keells Holdings gained 20 cents to Rs. 22.80.

Panasian Power and Sampath Bank were also included amongst the top turnover contributors. The share price of Panasian Power recorded a gain of Rs. 1.70 to Rs. 17. The share price of Sampath Bank declined by 50 cents to Rs. 126.

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