Profit taking drags Colombo stock market down

Friday, 4 July 2025 00:02 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday reverted to negative mode due to profit taking by investors.

The benchmark ASPI dipped by 0.23% and the active S&P SL 20 by 0.22%. Turnover was Rs. 5.6 billion involving 198.2 million shares.

First Capital said the Colombo Bourse faced selling pressure as investors booked profits. The ASPI fell by 41 points, to close the day at 18,000. Leading the decline were HAYL, CTHR, DOCK, GRAN, and SAMP, which acted as the main drag on the index. Stocks in the Construction sector attracted notable investor interest during the session. Retail and HNW investor participation remained notably strong throughout the session. Turnover was 9% below the monthly average. The Capital Goods sector was the top contributor to today’s turnover, accounting for a share of 26%. This was followed by the Banking and Material sectors which made a joint contribution of around 31%. Foreign investors remained net sellers, with a net outflow of Rs. 48.3 million.

NDB Securities said high net worth and institutional investor participation was noted in Access Engineering, Hatton National Bank and Pan Asia Banking Corporation. Mixed interest was observed in Commercial Bank, Commercial Bank nonvoting and Dipped Products whilst retail interest was noted in Luminex, Millennium Housing Developers and Cargills Bank.

Then Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Access Engineering) whilst the sector index gained 0.54%. The share price of John Keells Holdings increased by 40 cents to Rs. 23.40. The share price of Access Engineering closed flat at Rs. 46.90.

The Banking sector was the second highest contributor to the market turnover whilst the sector index decreased by 0.48%. LVL Energy Fund Ltd., RIL Property and CIC Holdings nonvoting were also included amongst the top turnover contributors. The share price of LVL Energy Fund Ltd. gained by 50 cents to Rs. 9. The share price of RIL Property recorded a gain of 10 cents to Rs. 25.20. The share price of CIC Holdings nonvoting appreciated by Rs. 2.65 to Rs. 100.75.

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