Colombo stock market extends gains amidst healthy turnover

Thursday, 29 May 2025 05:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday extended its gains amidst active participation of optimistic investors.

The benchmark ASPI gained by 0.33% and the active S&P SL20 by 0.19%. Turnover was Rs. 4.3 billion involving 208 million shares. The market saw an end to net foreign inflows yesterday as foreigners turned net sellers.

First Capital said while the index initially saw a modest pullback during early trading, a mid-session recovery helped it regain momentum and end firmly in positive territory. The upward move was driven by strong performances from HHL, COMB, SPEN, DIAL, and SAMP, which were the day’s top contributors. Investor sentiment remained broadly positive, supported by active participation from both HNW and retail investors. Interest from HNW investors was particularly evident in DIAL and HHL. Market turnover was a 14% increase over the monthly average. The Capital Goods sector led the market in terms of turnover with a contribution of 26%, while the Banking, and Food, Beverage and Tobacco sectors collectively accounted for 32%. However, foreign investors remained cautious, registering a net outflow of Rs. 162.7 million.

NDB Securities said high net worth and institutional investor participation was noted in Dialog Axiata, Hemas Holdings and Digital Mobility Solutions Lanka. Mixed interest was observed in Hatton National Bank, ACL Cables and John Keells Holdings whilst retail interest was noted in Nation Lanka Finance, LOLC Finance and Cable Solutions.

The Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings and John Keells Holdings) whilst the sector index lost 0.57%. The share price of Hemas Holdings increased by Rs. 1.20 to Rs. 27.50. The share price of John Keells Holdings declined by 40 cents to Rs. 20.80.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank) whilst the sector index increased by 0.52%. The share price of Hatton National Bank moved down by Rs. 1.50 to Rs. 318.

Dialog Axiata and Digital Mobility Solutions Lanka were also included amongst the top turnover contributors. The share price of Dialog Axiata gained 60 cents to Rs. 17.60. The share price of Digital Mobility Solutions Lanka recorded a gain of Rs. 1.40 to Rs. 74.90.

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