CSE plunges 3.5% to below 21,000 points

Tuesday, 17 March 2026 06:45 - - {{hitsCtrl.values.hits}}

Hits six-month low, with over Rs. 700 b value wiped out since 27 Feb.

The Colombo market plunged to a six-month low yesterday on rising concerns about the escalating Mideast conflict’s impact on the economy.

The CSE has lost nearly Rs. 701 billion in value since the Middle East crisis broke out on 28 February.

Yesterday, the ASPI ended down 3.47% or 753.29 points to 20,939.26 and the active S&P SL20 index fell 3.28% or 199.72 points to 5,884.93, a five-and-a-half-month low.

Market turnover was nearly Rs. 6.6 billion on over 588 million shares traded. Foreigners were net buyers on a net inflow of Rs. 54.4 million.

First Capital Research said the indices dropped sharply lower and stayed in the red as investors reacted to global uncertainty. The ASPI has now retreated 2,795 points from its pre-war level of 23,734 while the S&P SL20 Index has declined 11.3%.

Market breadth was negative with 261 counters declining during the session, led by JKH, COMB, HNB, DIAL and DFCC, while only 12 counters showed price gains during the day.

HNW participation remained subdued, while retail activity was elevated amid panic-driven selling. However, the market saw a slight recovery as investors took advantage of bargain-hunting opportunities at discounted price levels.

The diversified financials sector led the daily turnover with a share of 26%, followed by the capital goods and banking sectors collectively contributing 38%.

CT Smith Securities said Ceylon Land and Equity emerged as the top contributor to turnover with Rs. 1.25 billion on 104.2 million shares traded, followed by John Keells Holdings with Rs. 684 million on 35.7 million shares and Commercial Bank of Ceylon - Voting with Rs. 318 million on 1.6 million shares changing hands.