CSE begins May on a mixed note; turnover hits new high of Rs. 6 b

The Colombo stock market yesterday ended on a mixed note though turnover hit a new high of Rs. 6 billion.

The benchmark ASPI gained by 52 points or 0.3% whilst the active S&P SL20 declined by over 5 points or 0.12%. Turnover was Rs. 5.9 billion involving 77.26 million shares.



Turnover was led by CT Holdings (Rs. 2 billion via 4 crossings), Cargills (Rs. 2 billion via 4 crossings), PABC (Rs. 252 million), Lankem Developments (Rs. 214 million) and JKH (Rs. 108 million).

During the week, both the ASPI and S&P SL20 gained 0.7% and 0.1% respectively, while recording an average turnover of Rs. 3.29 billion.

First Capital said the month commenced on a positive note with the Bourse experiencing a day of positive sentiment and increased activity. The ASPI closed 52 points up at 15,852, reflecting a 0.33% surge. PABC, CTHR, DFCC, MELS and NTB emerged as the top positive contributors to the index. Retail investors showed a modest uptick in activity compared to the previous session, while HNW participation saw a notable surge, significantly boosting today’s turnover — driven primarily by crossings in CTHR and CARG, which together accounted for 68.4% of the total turnover. The slight moderation in March’s Construction PMI still signalled growth, which aligned with renewed investor interest in specific counters in the sector such as AEL, JAT, and ACL. Furthermore, the Banking sector saw positive sentiment, with PABC leading the way following stellar quarterly results. The turnover reflected a 132.3% increase from the monthly average. The Food Retailing sector led today’s turnover with a 68% share, followed by the Banking and Food, Beverage and Tobacco sectors jointly accounting for 16%. 

Asia Securities said PABC (+7.8%), LION (+3.5%), and SINS (+1.3%) closed higher while JKH (-1.9%), AEL (-1.5%), and COMBN (-0.4%) ended in red during the session. Investors showed increased interest in construction sector stocks such as JAT (+4.1%), PARQ (+1.8%), and ACL (+1.0%) during the session. PABC (+7 points) and CTHR (+6 points) came in as the major index movers while JKH (-15 points) ended as the biggest laggard on the ASPI. The market breadth was positive with 131 price gainers and 64 decliners.

Foreigners recorded a net outflow of Rs. 87.1 million. Net foreign buying topped in CARG.N at Rs. 1.2 billion and selling topped in CTHR.N at Rs. 1.2 billion.

NDB Securities said crossings were witnessed in CT Holdings, Cargills, Pan Asia Banking Corporation, John Keells Holdings, Lion Brewery, Melstacorp, Lanka IOC, and Central Finance Company accounting for 71.7% of the turnover.

Mixed interest was observed in Lankem Developments, JAT Holdings and ACL Cables whilst retail interest was noted in Browns Investments, Industrial Asphalts and Panasian Power. Furthermore, foreigners closed as net sellers.

The Food and Staples Retailing sector was the top contributor to the market turnover (due to CT Holdings and Cargills) whilst the sector index gained 1.28%. The share price of CT Holdings increased by Rs. 8.75 to Rs. 398.75. The share price of Cargills gained Rs. 1.50 to Rs. 459.50.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lankem Developments) whilst the sector index increased by 0.43%.

The share price of Lankem Developments recorded a gain of 70 cents to Rs. 20.80.

Pan Asia Banking Corporation and John Keells Holdings were also included amongst the top turnover contributors. The share price of Pan Asia Banking Corporation moved up by Rs. 2.70 to Rs. 37.50. The share price of John Keells Holdings declined by 40 cents to Rs. 20.30.