CSE opens week in red

Tuesday, 3 February 2026 03:30 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened the week in red yesterday amid mixed investor sentiment after recovering from a sharp fall in early trading.

The ASPI closed down 0.55% or 130.63 points to 23,681.68 and the S&P SL20 ended down 0.60% or 43.95 points to 6,5697.20.

Turnover was nearly Rs. 5.2 billion on over 153.6 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 371 million.

Almas Equities Research said the week started on a negative note, with indices falling sharply during the session, dropping as much as 190 points at one point before recovering slightly towards the close. The decline was primarily driven by index-weighted counters, which fell despite strong turnover in select stocks. Overall, investor sentiment remained mixed, reflecting cautious positioning in the market.

The capital goods sector dominated turnover, recording Rs. 2.07 billion supported by 27.18 million shares traded. DOCK.N was the largest contributor within the sector, generating Rs. 1.47 billion in turnover with 10.19 million shares traded.

Crossings accounted for Rs. 0.61 billion, representing 11% of total turnover. The largest crossing was recorded in CINS.N, with a turnover of Rs. 0.36 billion involving 0.10 million shares. Market breadth remained weak, with 71 gainers and 151 decliners, reflecting continued selling pressure.

Among notable trades, AFS.N recorded strong activity, posting a turnover of Rs. 0.15 billion, with 1.74 million shares traded, alongside a price gain of 15.82%.

First Capital Research said the bourse saw a modest decline as indices trended downward early on before stabilising, with blue-chip stocks experiencing slightly more selling pressure. Top negative contributors to the ASPI were CINS, DOCK, MELS, COMB and JKH. HNW and retail participation remained average.

The capital goods sector led the daily turnover with a share of 40%, followed by the diversified financials, and insurance sectors collectively contributing 27%.

NDB Securities said the ASPI closed in negative territory due to price losses in counters such as Ceylinco Holdings, Colombo Dockyard and Melstacorp. High net worth and institutional investor participation was noted in Ceylinco Holdings, RIL Property and Cargills, while mixed interest was observed in Colombo Dockyard, Prime Lands Residencies and Galle Face Capital Partners. Retail interest was seen in Ceylon Land and Equity, UB Finance Company and SMB Leasing.

The capital goods sector emerged as the top contributor to market turnover, driven by Colombo Dockyard, while the sector index declined by 0.81%. The share price of Colombo Dockyard fell by Rs. 9.25 to close at Rs. 145.75.

The diversified financials sector was the second-highest contributor to turnover, supported by activity in Ceylon Land and Equity and Galle Face Capital Partners, though the sector index slipped by 0.25%. The share price of Ceylon Land and Equity gained Rs. 2.80 to close at Rs. 15.10, while Galle Face Capital Partners rose by Rs. 22 or to close at Rs. 128.

Ceylinco Holdings and Prime Lands Residencies were also among the top turnover contributors. The share price of Ceylinco Holdings declined by Rs. 109.50 to close at Rs. 3,250.25, while Prime Lands Residencies gained 60 cents to close at Rs. 48.