Profit-taking drags Colombo stock market down

Wednesday, 6 August 2025 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday remained in the negative mode due to profit-taking by investors.

The benchmark ASPI dipped by 0.34% and the active S&P SL 20 by 0.47%. Turnover was over Rs. 3.3 billion involving 358.07 million shares.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers with a net outflow of Rs. 145.4 million.

First Capital said reflecting on Monday’s selling pressure, the Colombo Bourse yesterday experienced a downward trend accompanied by market volatility. The index dropped sharply during the early trading hours but later recovered somewhat due to bargain buying, although it was unable to close in positive territory. Yesterday, the ASPI ended at 19,718, down 68 points. Similar to Monday, diversified conglomerates such as JKH, MELS, and VONE, along with banking sector stocks like DFCC and COMB, weighed heavily on the index.

Additionally, subdued participation from retail and HNW investors was also observed compared to previous sessions. Amidst limited crossings, daily turnover amounted to Rs. 3.3 billion, marking a 53% decrease from the monthly average of Rs. 7.1 billion. The Capital Goods sector dominated turnover, contributing 30%, followed by the banking and diversified financial sectors with a combined contribution of 35%.

High net worth and institutional investor participation was noted in Renuka Holdings, John Keells Holdings and DFCC Bank. Mixed interest was observed in Singer Sri Lanka, National Development Bank and Hatton National Bank whilst retail interest was noted in UB Finance Company, SMB Leasing and Renuka Agri Foods.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Renuka Holdings) whilst the sector index lost 1.07%. The share price of John Keells Holdings decreased by 40 cents to close at Rs. 23.50. The share price of Renuka Holdings gained Rs. 1.40 to close at Rs. 23.40. The Banking sector was the second highest contributor to the market turnover (due to DFCC Bank and Hatton National Bank) whilst the sector index decreased by 0.16%. The share price of DFCC Bank moved down by Rs. 1.50 to close at Rs. 153.75. The share price of Hatton National Bank recorded a gain of Rs 1.25 (0.34%) to close at Rs. 374.25.

Singer Sri Lanka was also included amongst the top turnover contributors. The share price of Singer Sri Lanka appreciated by Rs. 1.60 to close at Rs. 64.40.

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