CSE sustains bullish run amidst high turnover

Thursday, 5 June 2025 03:35 - - {{hitsCtrl.values.hits}}

The Colombo stock market sustained its bullish run yesterday with the benchmark touching an all-time mid-day amidst high turnover.

The ASPI gained by over 138 points or 0.8% to close at 17,353 and the active S&P SL20 by 0.55%. Turnover was Rs. 7.37 billion involving 279 million shares. Market turnover was led by CDB (Rs. 598 million), CFIN (Rs. 447 million), and LOLC (Rs. 383 million).

First Capital said the market continued its upward momentum, with the ASPI advancing 139 points to close at 17,353, refreshing its all-time high for the second consecutive day. The market exhibited intraday volatility opening on a firm note, dipping mid-session, and subsequently recovering to end in positive territory. The rally was primarily supported by strength in CTC, CFIN, HHL, LION, and CARG. Investor sentiment remained broadly positive, underpinned by heightened participation from retail investors. Interest from HNW individuals was particularly evident in CDB and LOLC. Turnover was 69% higher than the monthly average.

The Diversified Financials sector was the largest contributor to turnover, accounting for 26%, followed by the Capital Goods and Banking sectors, which collectively added a further 37%. Despite the upbeat domestic tone, foreign investors remained net sellers, recording an outflow of Rs. 71.4 million suggesting continued caution amidst broader global uncertainties.

Asia Securities said indices were supported by price increases in CDB (+8.4%), CFIN (+5.5%), HHL (+4.2%), CIC (+2.1%), and SUN (+2.0%). Moreover, investors showed increased interest in construction sector stocks like PARQ (+8.6%), RCL (3.9%) and KCAB (+2.2%) during the session. Price increases in CTC (+33 points), CFIN (+18 points), and HHL (+13 points) provided support for the ASPI during the session. The market breadth was neutral, with 115 price gainers and 116 decliners.

Net foreign buying topped in SPEN at Rs. 84.7 million and selling topped in PKME at Rs. 81.9 million.

NDB Securities said high net worth and institutional investor participation was noted in Citizens Development Business Finance, LOLC Holdings, and Central Finance Company. Mixed interest was observed in Hemas Holdings, Royal Ceramics and Swisstek whilst retail interest was noted in Nation Lanka Finance, HNB Finance and Cargills Bank.

The Diversified Financials sector was the top contributor to the market turnover (due to Citizens Development Business Finance, Central Finance Company and LOLC Holdings) whilst the sector index gained 1.60%. The share price of Citizens Development Business Finance increased by Rs. 21.25 to Rs. 274.50. The share price of Central Finance Company gained Rs. 12.25 to Rs. 234.50. The share price of LOLC Holdings moved up by Rs. 4.50 to Rs. 623.25.

The Capital Goods sector was the second highest contributor to the market turnover (due to Royal Ceramics and Hemas Holdings) whilst the sector index increased by 1.22%. The share price of Royal Ceramics recorded a gain of Rs. 1.50 to Rs. 40. The share price of Hemas Holdings appreciated by Rs. 1.20 to Rs. 29.70.

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