CSE indices lacklustre despite big deals via crossings boosting turnover to Rs. 8.8 b

Wednesday, 9 July 2025 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained bearish yesterday despite a Rs. 3.2 billion worth 77% stake acquisition of East-West Properties by business leader Dhammika Perera.

The benchmark ASPI was down by 10 points and the active S&P SL20 by 18 points. Turnover was Rs. 8.88 billion involving 239.28 million shares.

First Capital said the Colombo Bourse witnessed mixed sentiment as investor caution grew over rising discussions surrounding potential tariffs. The ASPI opened on a bearish note, slipping early in the session due to selling pressure. However, as the day progressed, the market saw a modest recovery driven by bargain hunting, ultimately ending the session nearly flat.

JKH, CTHR, HNB, RCL, and CTC emerged as the top negative contributors to the index. Investor activity remained strong across the board, with both retail and HNW participation driving daily turnover to 82% above the monthly average.

Off-board transactions took centre stage, with 77.4% of EAST’s stake changing hands at Rs. 30.20 per share across four trades, whilst a 1% stake in SAMP was traded at Rs. 125 per share through 15 off-board transactions. The Real Estate sector led the turnover, accounting for 40% of the day’s total, followed by the Banking and Diversified Financials sectors, which together contributed 38%. Foreign investors turned net sellers with a net outflow of Rs. 561 million.

NDB Securities said crossings were witnessed in East West Properties, Sampath Bank and Commercial Bank accounting for 59% of the turnover. Mixed interest was observed in Hatton National Bank, John Keells Holdings and CIC Holdings whilst retail interest was noted in LVL Energy Fund, Renuka Agri Foods and Browns Investments.

The Real Estate sector was the top contributor to the market turnover (due to East West Properties) whilst the sector index lost 0.55%. The share price of East West Properties increased by Rs. 5.80 to Rs. 31.80.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank, Commercial Bank and Hatton National Bank) whilst the sector index edged up by 0.05%. The share price of Sampath Bank gained 25 cents to Rs. 126. The share price of Commercial Bank moved up one Rupee to Rs. 159.50. The share price of Hatton National Bank declined by Rs. 2.25 to Rs. 330.

John Keells Holdings was also included amongst the top turnover contributors whilst its share price declined by 40 cents to Rs. 23.20.

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