Colombo stock market begins new week on negative note

Tuesday, 8 July 2025 04:41 - - {{hitsCtrl.values.hits}}

The Colombo stock market began a new week on a negative note with relatively low investor activity.

The benchmark ASPI declined by 0.58% and the active S&P SL20 by 0.5%. Turnover was Rs. 2.4 billion involving 153.8 million shares.

First Capital said the market started the week off on a dull note with dormant investor participation and weak sentiment. The ASPI remained volatile throughout the session, ultimately dipping by around 106 points. The index fell sharply at the open and staged a brief rebound before reversing course and succumbing to selling pressure that dragged it down.

Notable contributors to the downturn included MELS, HNB, COMB, SPEN, and NDB. Surrounding the uncertainty around the verdict on the US tariffs, both retail and HNW investors remained cautious and opted for a wait and see stance. Turnover was 53% lower from the monthly average. The Capital Goods sector was the top contributor to today’s turnover, accounting for a share of 23%. This was followed by the Banking, and Diversified Financials sectors which produced a joint contribution of about 37%.

Asia Securities said indices closed in red after initial dip and recovery in the first half of the session, dragged by price declines in DOCK (-14.0%), DIPD (-2.8%), PARQ (-2.2%), and CIC (-2.0%). MELS (-13 points), HNBN (-7 points), and COMBN (-7 points) were the major laggards of the index. The market breadth was negative with 79 price gainers and 146 decliners.

Turnover was led by SAMPN (Rs. 281 million), JKH (Rs. 144 million) and VFIN (Rs. 138 million.

Foreigners recorded a net inflow of Rs. 69.9 million. Net foreign buying topped in MELS at Rs. 59.5 million and selling topped in TAFL at Rs. 7 million.

NDB Securities said high net worth and institutional investor participation was noted in C T Holdings, Cargills and John Keells Holdings. Mixed interest was observed in Dipped Products, Access Engineering and Commercial Bank whilst retail interest was noted in Lanka Walltiles, Hela Apparel Holdings and Watawala Plantations.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings, Colombo Dockyard and Access Engineering) whilst the sector index lost 0.59%. The share price of John Keells Holdings lost 10 cents to Rs. 23.60. The share price of Colombo Dockyard recorded a loss of Rs. 13.20 to Rs. 80.90. The share price of Access Engineering appreciated by 20 cents to Rs. 47.20.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index decreased by 0.71%. The share price of Sampath Bank decreased by Rs 25 cents to Rs. 125.75.

Vallibel Finance was also included amongst the top turnover contributors with its share price gaining by Rs. 1.75 to Rs. 107.

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