CSE slides to 23-week low

Friday, 18 September 2026 00:04 - - {{hitsCtrl.values.hits}}

The Colombo stock market continued its steep slide yesterday, down over 100 points for a second straight session and to a 23-week low on persisting concerns over rising interest rates and global oil prices.

With 152 counters ending in red against 50 in green, the ASPI closed down 0.52% or 109.98 points at 21,023.43 and the S&P SL20 fell 0.38% or 22.33 points to 5,924.96. Top contributors to the ASPI decline were MELS, DIAL, HAYL, BREW and RIL.

Market turnover was over Rs. 1.3 billion on over 55.4 million shares traded. Foreign investors continued to be net sellers on a net outflow of over Rs. 213 million.

First Capital Research said the market experienced broad-based selling pressure as negative sentiment persisted throughout the session. Sustained crude oil prices above $ 100 per barrel, coupled with concerns over rising interest rates, weighed heavily on market sentiment.

High net-worth investors accounted for the majority of overall turnover, while retail participation remained subdued. The capital goods sector led daily turnover with a share of 21%, followed by the food, beverage, and tobacco and banking sectors, which collectively contributed 34%.

NDB Securities said high net-worth and institutional investor participation was noted in Digital Mobility Solutions Lanka, Hayleys and Commercial Bank. Mixed interest was observed in Nations Trust Bank, Dialog Axiata and John Keells Holdings, whilst retail interest was noted in Co-Operative Insurance Company, Softlogic Finance and Cargills Bank.

The capital goods sector was the top contributor to the market turnover due to Hayleys and John Keells Holdings, whilst the sector index lost 0.30%. Hayleys lost Rs. 3.50 to close at Rs. 224 and John Keells Holdings gained 10 cents to Rs. 19.20.

The food, beverage and tobacco sector was the second highest contributor to the market turnover, whilst the sector index decreased by 0.47%.

Digital Mobility Solutions Lanka, Nations Trust Bank and Commercial Bank were also included amongst the top turnover contributors. Digital Mobility Solutions Lanka ended up 25 cents to Rs. 154.25, Nations Trust Bank lost Rs. 2.50 to Rs. 304.75, and Commercial Bank declined Re. 1 to close at Rs. 202.50.