CSE starts week in red weighed by ME tensions, ends down 1.33%

Tuesday, 24 March 2026 03:29 - - {{hitsCtrl.values.hits}}

The Colombo stock market opened the week in red on growing concerns about the prolonged impact of global supply chain disruptions from the escalating Middle East war.

The ASPI ended down 1.33% or 274.76 points at 20,364.97 and the active S&P SL20 ended down 1.14% or 65.37 points at 5,686.82. The market has lost over Rs. 1.1 trillion in value since the Middle East war broke out on 28 February 2026. Market turnover was a low Rs. 2.37 billion on over 96.2 million shares traded.

First Capital Research said the oil shock and uncertainty triggered an early market rout and ASPI ended lower despite a partial recovery.

Amid intensifying tensions in the Middle East, rising global crude oil prices, and prevailing domestic uncertainties regarding a reliable fuel and energy supply, the market declined sharply within minutes of the commencement of today’s session.

The ASPI plunged by nearly 400 points at the outset but managed to recover part of the losses during the day.

Market breadth remained negative, with 209 counters declining compared to only 39 gainers, and the primary negative contributors to the ASPI were DOCK, JKH, RIL, DIAL, and CFIN. Participation of HNW investors and retail investors was observed at below-average levels.

The capital goods sector led turnover with a 29% share, followed by the banking and diversified financials sectors, which collectively accounted for 27%, while foreign investors remained net sellers, posting a net outflow of Rs. 118.1 million, with JKH, SINS, and DIAL recording the highest foreign outflows and PKME, WIND, and TAP attracting the largest foreign inflows.