CSE starts week in red amid foreign buying

Tuesday, 12 May 2026 01:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened the week in red yesterday after failing to sustain an early rally amid strong foreign investor buying.

The ASPI peaked at 23,111. 65 in early trading but ended down 0.23% or 52.26 points at 23,011.72 and the S&P SL20 was down 0.30% or 19.22 points at 6,300.02. During the session, 105 counters closed on the up while 128 counters closed in red.

Market turnover was nearly Rs. 4.93 billion on over 185.3 million shares traded. Foreign investors were net buyers on a net inflow of Rs. 597.5 million.

First Capital Research said that as US President Donald Trump dismissed Iran’s response to US proposals aimed at ending the war, renewed tensions in the Middle East weighed negatively on the Colombo Bourse alongside rising global oil prices.

CINS, JKH, COMB, DFCC and DOCK emerged as the top negative contributors to turnover.

Participation from HNW investors remained elevated, with crossings accounting for 61.6% of the total turnover, supported by a crossing valued at Rs. 2.8 b in SEYB, which represented 91.2% of total crossings. Retail investor participation was observed at average levels.

The banking sector led the daily turnover with a share of 62%, followed by the diversified financials and materials sectors collectively contributing 14%.

NDB Securities said the ASPI closed in red as a result of price losses in counters such as Ceylinco Holdings, Commercial Bank and DFCC Bank. A similar behaviour was witnessed in the S&P SL20. Crossings were witnessed in Seylan Bank, Ceylon Land and Equity and Digital Mobility Solutions Lanka, accounting for 60.5% of turnover.

Mixed interest was observed in Commercial Bank, Colombo Dockyard and Ceylon Grain Elevators whilst retail interest was noted in Citrus Leisure, LVL Energy Fund and Amana Takaful Rights.

The banking sector was the top contributor to market turnover due to Seylan Bank and Commercial Bank whilst the sector index lost 0.53%. The share price of Seylan Bank increased 25 cents to Rs. 106.25 and Commercial Bank fell Rs. 1.75 to close at Rs. 208.75.

The diversified financials sector was the second highest contributor to market turnover due to Ceylon Land and Equity whilst the sector index increased by 0.22%. The share price of Ceylon Land and Equity moved up 10 cents to Rs. 11.10.

Digital Mobility Solutions Lanka and Colombo Dockyard were also included amongst the top turnover contributors. The share price of Digital Mobility Solutions Lanka gained Rs. 1.25 to Rs. 165.00 and Colombo Dockyard declined Rs. 2.50 to close at Rs. 140.75.

Asia Securities Research said net foreign buying topped in SEYB.N at Rs. 624 million while net foreign selling topped in COMB.N at Rs. 35.3 million. Crossings accounted for 61.6% of turnover led by SEYB.N (Rs. 2.8 billion), KZOO.N (Rs. 154 million), and PKME.N (Rs. 54.1 million). Market P/E was 11.78.