CSE opens week on the up, less than 100 points away from 24,000 mark

Tuesday, 17 February 2026 02:31 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened the week yesterday on a strong re-bound driven by banking stocks closing 99.89 points shy of the 24,000 milestone.

The ASPI ended 0.80% on the up or 190.27 points at 23,900.11 and the S&P SL20 ended 1.38% up, or 91.60 points at 6,710.33.

Market turnover was over Rs. 5.6 billion on nearly 243.8 million shares traded. Foreign investors were net sellers on a Rs. 167.6 million outflow.

First Capital Research said the bourse maintained its upward bias, supported predominantly by strength in large-cap banking counters, as investors positioned ahead of forthcoming earnings releases and anticipated dividend announcements.

Leading positive contributors to the ASPI were HNB, SAMP, COMB, DOCK, and NDB. Market breadth was negative, with 135 stocks declining compared to 96 advancers, underscoring that the index gains were largely driven by strength in select large-cap banking counters.

HNW investor participation remained subdued, while retail investor activity was observed at average levels. The banking sector led the daily turnover with a share of 33%, followed by the capital goods, and diversified financials sectors collectively contributing 32%.

Asia Securities Research said the banks, capital goods, diversified financials and food, beverage & tobacco sectors led activity, collectively accounting for 77% of turnover.

Net foreign buying topped in LMF.N at Rs. 49.7 million while net foreign selling topped in DIAL.N at Rs. 131.8 million. Crossings accounted for 11.3% of turnover led by SEYB.X (Rs. 214.1 million), DIAL.N (Rs. 177.4 million), and JKH.N (Rs. 78.1 million). Market P/E was 11.26.