Colombo stock market sustains optimism into new week

Tuesday, 20 May 2025 02:57 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday began a fresh and fully fledged week on a positive note with investors sustaining the new-found optimism from last week.

The benchmark ASPI gained by 0.1% and the active S&P SL20 by 0.3%. Turnover was Rs. 2.6 billion involving 91.4 million shares.

First Capital said the Colombo Bourse extended its positive momentum into the new week. Although the index eased slightly after an early surge, it remained comfortably above Friday’s close. Key gains were driven by Banking sector stocks HNB, SEYB and COMB, alongside JKH and CTHR. Both retail and HNW investors were active, the latter showing a pronounced preference for the Banking sector. Trading turnover rose by 15.7% than the monthly average with the Banking sector accounting for 46% of volume, underpinned by strong recent quarterly results. The Capital Goods and Diversified financial sectors contributed a combined 25% of total turnover. Foreign investors registered a net inflow of Rs. 77.6 million.

NDB Securities said high net worth and institutional investor participation was noted in Pan Asia Banking Corporation, Seylan Bank and Commercial Bank. Mixed interest was observed in John Keells Holdings, DFCC Bank and Sampath Bank whilst retail interest was noted in Panasian Power, LOLC Finance and Browns Investments.

The Banking sector was the top contributor to the market turnover (due to Pan Asia Banking Corporation, Commercial Bank, Seylan Bank and DFCC Bank) whilst the sector index gained 0.59%. The share price of Pan Asia Banking Corporation increased by 20 cents to Rs. 38.80. The share price of Commercial Bank gained by 75 cents to Rs. 143.50. The share price of Seylan Bank moved up by Rs. 2.80 to Rs. 73.70. The share price of DFCC Bank recorded a loss of 25 cents to Rs. 103.75.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index increased by 0.46%. The share price of John Keells Holdings appreciated by 20 cents to Rs. 21.20.

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