Colombo stock market remains negative – crossings boost turnover to nearly Rs. 7 b

Wednesday, 18 June 2025 00:10 - - {{hitsCtrl.values.hits}}

The Colombo stock market remained negative yesterday though turnover rose due to crossings of stakes of several blue chips.

The benchmark ASPI declined by 0.45% and the active S&P SL was almost flat. Turnover was Rs. 6.8 billion involving 175.8 million shares.

Turnover was led by Hayleys PLC (Rs. 1.5 billion), Commercial Bank (Rs. 574 million), Sampath Bank (Rs. 539 million), LB Finance (Rs. 317 million) and JKH (Rs. 273 million). Crossings dominated turnover including Hayleys (7.3 million shares at Rs. 165 each), Commercial Bank (2.9 million shares Rs. 155 each) and JKH (5 million shares at Rs. 20 each)

First Capital said the market experienced a day of selling pressure and rattled investor behaviour in the face of global geo-political uncertainty. The ASPI kicked off the day with some decent gains and managed to hold steady for most of the morning, but towards the end of the session, it started to come under some selling pressure, which dragged it down sharply, ultimately closing at 17,281 with a 78 point drop. NDB, LOLC, DFCC, BIL and NTB were the key counters that exerted downward pressure on the index. Retail investors expressed moderate levels of activity whereas HNW investors engaged in active trading with primary interest towards Banking sector stocks and blue-chips such as HAYL and JKH. Turnover was a 35% increase relative to the monthly average. The Capital Goods sector led today’s turnover, contributing 34%, followed by the Banking, and Diversified Financials sectors, jointly accounting for 40%. Foreign investors remained net sellers, with a net outflow of Rs. 115.7 million.

NDB Securities said high net worth and institutional investor participation was noted in Hayleys, Commercial Bank and Sampath Bank. Mixed interest was observed in John Keells Holdings, LB Finance and Access Engineering whilst retail interest was noted in HNB Finance, LVL Energy Fund and Prime Lands Residencies.

The Capital Goods sector was the top contributor to the market turnover (due to Hayleys and John Keells Holdings) whilst the sector index lost 0.27%. The share price of Hayleys increased by Rs. 5 to Rs. 164.50. The share price of John Keells Holdings declined by 10 cents to Rs. 21.80.

The Banking sector was the second highest contributor to the market turnover (due to Commercial Bank and Sampath Bank) whilst the sector index decreased by 0.14%. The share price of Commercial Bank gained by one Rupee to Rs. 153. The share price of Sampath Bank moved up by Rs. 1.75 to Rs. 121.75.

LB Finance was also included amongst the top turnover contributors with its share price gaining by Rs. 4 to Rs. 120.

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