CSE extends rally, opens week up

Wednesday, 22 October 2025 00:08 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday opened the week in green setting a new benchmark. The ASPI was up 0.66%, gaining 149.82 points to reach a new high 22,783.62 while the active S&P SL20 gained 21.04 points to 6,284.07 to close up 0.34%.

Market turnover was Rs. 7.42 million on more than 309.2 million shares traded.

Foreigners were net sellers with a net outflow of Rs. 86.45 million.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Central Finance Company, Co-Operative Insurance Company and Harischandra Mills with the turnover crossing Rs. 7.4 billion.

A similar behaviour was witnessed in the S&P SL20. High net worth and institutional investor participation was noted in Seylan Bank, People’s Leasing & Finance and Lanka Credit and Business Finance.

Mixed interest was observed in Sierra Cables, Co-Operative Insurance Company and Central Finance Company whilst retail interest was noted in Industrial Asphalts, SMB Leasing and SMB Leasing nonvoting.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.

The Banking sector was the top contributor to the market turnover (due to Seylan Bank and Hatton National Bank nonvoting) whilst the sector index gained 0.55%.

The share price of Seylan Bank increased by Rs. 1 (0.92%) to close at Rs. 109.25. The share price of Hatton National Bank nonvoting appreciated by Rs. 2 (0.64%) to close at Rs. 316.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Lanka Credit and Business Finance Ltd.) whilst the sector index increased by 1.50%. The share price of Lanka Credit and Business Finance Ltd. recorded a gain of 60 cents (5.94%) to close at Rs. 10.70.

Sierra Cables and Co-Operative Insurance Company Ltd. were also included amongst the top turnover contributors.

The share price of Sierra Cables gained Rs. 1.70 (5.99%) to close at Rs. 30.10. The share price of Co-Operative Insurance Company Ltd. moved up by 90 cents (18.75%) to close at Rs. 5.70.

First Capital Research said the Colombo Bourse extended its upward momentum, with the ASPI gaining 150 points to close at 22,784.

While HNW activity remained relatively subdued, retail participation was strong, particularly in small to mid-cap counters.

CFIN, COOP, HARI, DFCC, and WIND emerged as key positive contributors to the index.

Turnover stood at Rs. 7.4 billion, in line with the monthly average of Rs. 7.4 billion.

Notably, a Rs. 1.6 billion crossing in SEYB contributed significantly to today’s activity. The Banking sector dominated turnover, accounting for 37% of the total, while the Diversified Financials and Capital Goods sectors collectively added 29%.

Meanwhile, foreign investors remained net sellers, posting a net outflow of Rs. 86.5 million.