Colombo stock market recoups 30% of Monday’s Rs. 240 b value wipe-off

Wednesday, 3 December 2025 05:12 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday bounced back capturing 30% of the value lost on Monday when market opened following the devastating Ditwah cyclone.

The market yesterday saw the benchmark ASPI gain by 1% or 219 points and the active S&P SL20 by 0.85%. On Monday the indices plunged by 690 points and 181 points respectively wiping off Rs. 240 billion in value. Market capitalisation gained by Rs. 72 billion yesterday.

First Capital said the market bounced back as investors capitalised on emerging bargain-hunting opportunities. Top contributors for the ASPI were RICH, CINS, SAMP, BUKI and NDB. Participation from HNW investors remained restrained while retail investors sought bargain hunting opportunities.

Turnover yesterday was Rs. 4 billion, 20% below the monthly average of Rs. 5 billion and Monday’s Rs. 5.2 billion.

The Capital Goods sector generated 29% of the day’s turnover, while the Banking and Materials sectors together accounted for 36.3%. Foreign investors remained net sellers, posting a net outflow of Rs. 197.6 million.

NDB Securities said high net worth and institutional investor participation was noted in Tokyo Cement Company nonvoting, Dipped Products, and Melstacorp. Mixed interest was observed in Access Engineering, Sierra Cables and Chevron Lubricants, whilst retail interest was noted in Co-Operative Insurance Company, Hikkaduwa Beach Resort and LOLC Finance.

The Capital Goods sector was the top contributor to the market turnover (due to Access Engineering and Sierra Cables) whilst the sector index gained 0.95%. The share price of Access Engineering decreased by Rs. 1.40 to Rs. 72.60. The share price of Sierra Cables recorded a gain of 90 cents to Rs. 32.90.

Materials sector was the second-highest contributor to the market turnover (due to Tokyo Cement Company nonvoting and Chevron Lubricants) whilst the sector index increased by 1.31%. The share price of Tokyo Cement Company nonvoting gained Rs. 2.50 to Rs. 79. The share price of Chevron Lubricants appreciated by Rs. 1.75 to Rs. 180.

Hatton National Bank nonvoting was also included amongst the top turnover contributors with its share price gaining 75 cents to Rs. 310.25.