Colombo stock market gathers further momentum

Thursday, 26 June 2025 00:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday sustained its new found optimism amidst calmer external front.

The benchmark ASPI gained by 2% and the active S&P SL20 by 1.66%. Turnover was nearly Rs. 6 billion involving 253.4 million shares.

First Capital said building on the positive sentiment from Tuesday following the ceasefire agreement and with no major escalations in the Middle East conflict, the Colombo Bourse sustained its bullish momentum throughout the trading session. Driven by strong investor conviction, the ASPI posted a forceful 344-point rally, ending the day at 17,536 in a clear display of market dominance. The session witnessed relatively strong participation from both high-net-worth and retail investors. Turnover was 13% higher from Tuesday and 12% above the monthly average supported by multiple crossings.

The Capital Goods sector was the top contributor to today’s turnover, accounting for a share of 21%, followed by the Banking and the Diversified Financials sectors which jointly contributed 35% share of the overall turnover. Foreign investors remained net sellers, with a net outflow of Rs. 240.5 million.

NDB Securities said high net worth and institutional investor participation was noted in LB Finance, Chevron Lubricants and Vallibel Finance. Mixed interest was observed in John Keells Holdings, Pan Asia Banking Corporation and HNB Finance whilst retail interest was noted in Co-Operative Insurance Company, Browns Investments and LOLC Finance.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 1.98%. The share price of John Keells Holdings increased by 30 cents to Rs. 22.

The Diversified Financials sector was the second highest contributor to the market turnover (due to HNB Finance) whilst the sector index increased by 2.13%. The share price of HNB Finance moved up by 90 cents to Rs 6.60.

Pan Asia Banking Corporation, LVL Energy Fund Ltd. and Dipped Products were also included amongst the top turnover contributors. The share price of Pan Asia Banking Corporation gained Rs 1.30 to Rs. 44.40. The share price of LVL Energy Fund recorded a gain of 70 cents to Rs 8.60. The share price of Dipped Products appreciated by Rs 4.10 to Rs 59.20.

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