Bullish week for CSE

Saturday, 31 May 2025 01:21 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended a bullish week boosted by rebound in investor sentiment and strategic deals.

First Capital said the CSE closed the week on a positive trajectory, with the ASPI gaining 39 points to settle at 16,855. After a modest uptick at the open followed by a brief dip, the index rebounded and maintained upward momentum to close firmly in the green. The rally was largely supported by notable gains in HAYL, CALH, which commenced trading today, COMB, NDB, and RIL. Investor sentiment remained upbeat, with heightened activity from retail participants, while HNW interest was observed particularly in LIOC, PKME and CALH. Total market turnover reached Rs. 5.2 billion, 30% higher over the monthly average.

The Diversified Financials sector led turnover, accounting for 27% of the total, followed by the Banks and Capital Goods sectors, which collectively contributed 34%. Foreign investors continued to remain cautious, recording a net outflow of Rs. 441.6 million.

Asia Securities said the indices closed in green on Friday supported by price gains in PARQ (+5.8%), LFIN (+4.0%), HAYL (+3.5%), and NDB (+3.3%).

HAYL (+15 points), CALH (+14 points), and COMBN (+13 points) came in as the major index movers for the day. The market breadth was negative with 106 price gainers and 115 decliners.

Turnover was led by CALH (Rs. 1.0 billion), RIL (Rs. 343 million), and SIRA (Rs. 245 million).

NDB Securities said high net worth and institutional investor participation was noted in Lanka IOC, Digital Mobility Solutions Lanka and Commercial Credit & Finance. Mixed interest was observed in Capital Alliance Holdings, RIL Property and Sierra Cables whilst retail interest was noted in Lanka Credit and Business Finance, Prime Lands Residencies and Millennium Housing Developers.

The Diversified Financials sector was the top contributor to the market turnover (due to Capital Alliance Holdings Ltd.) whilst the sector index lost 0.34%. The share price of Capital Alliance Holdings Ltd. increased by Rs. 7.00 to Rs. 17.00.

The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank) whilst the sector index increased by 0.65%. The share price of Sampath Bank recorded a gain of 75 cents to Rs. 115.00.

RIL Property, Sierra Cables and John Keells Holdings were also included amongst the top turnover contributors. The share price of RIL Property gained Rs. 2 to close at Rs. 21.00. The share price of Sierra Cables moved down by Rs. 1.20 to Rs. 16.90. The share price of John Keells Holdings declined by 20 cents to Rs. 20.90.

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