CSE begins new week on positive note

Tuesday, 6 May 2025 02:33 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday began a fresh week on a positive note, with improved investor activity.

The benchmark ASPI gained by 0.41% and the active S&P SL20 by 0.57%. Turnover was Rs. 1.92 billion involving 76.98 million shares.

However, foreign participation in market activity remained at subdued levels with investors closing as net sellers, with a net outflow of Rs. 262.5 million.

First Capital said the Colombo Stock Exchange extended its upward momentum at the start of the week, with the ASPI closing at 15,917, up 65 points from the previous session. The index opened on an upbeat note, experiencing some intraday volatility before settling in positive territory.

Market momentum was driven by notable contributions from blue-chip counters and mid-cap shares including JKH, COMB, SAMP, and GLAS. Investor sentiment appeared focused on the Capital Goods and Food, Beverage and Tobacco sectors, which drew significant attention throughout the trading day. Turnover was recorded at Rs. 2 billion, a 27.9% decline from the monthly average of Rs. 2.8 billion.

The Capital Goods sector led the turnover, accounting for 22% of total market activity, while the Food, Beverage and Tobacco and Materials sectors together contributed 34%.

NDB Securities said high net worth and institutional investor participation was noted in Sampath Bank, Melstacorp, and The Lighthouse Hotel.

Mixed interest was observed in John Keells Holdings, Lankem Developments, and Pan Asia Banking Corporation, whilst retail interest was noted in Hela Apparel Holdings, LOLC Finance, and Nation Lanka Finance.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 0.74%. The share price of John Keells Holdings increased by Rs. 0.30 to close at Rs. 20.60.

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 0.13%. The share price of Lankem Developments gained Rs. 1.10 (5.29%) to close at Rs. 21.90.

Sampath Bank, Pan Asia Banking Corporation, and The Lighthouse Hotel were also included amongst the top turnover contributors. The share price of Sampath Bank moved up by Rs. 1 to close at Rs. 109.50. The share price of Pan Asia Banking Corporation recorded a gain of Rs. 0.80 to close at Rs. 38.30. The share price of The Lighthouse Hotel appreciated by Rs. 2.40 to close at Rs. 63.

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