CSE closes shortened trading day on the up

Wednesday, 7 May 2025 00:00 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday closed on the up during the shortened trading session in view of LG polls.

The active S&P SL20 gained by 0.22% and the benchmark ASPI by 0.28%. Turnover was over Rs. 1.48 billion

involving 64.75 million shares.

Foreign investors continued to exit the market, registering a net outflow of Rs. 177.3 million. First Capital said the Colombo Stock Exchange maintained its upward momentum during yesterday’s shortened trading session, with the ASPI gaining 45 points to close at 15,962.

Market activity remained relatively stable early on, followed by a gradual ascent that led the index to finish in positive territory. Key contributors to the index were MELS, WIND, SPEN, SAMP and LION.

Investor focus was notably strong in the Food, Beverage and Tobacco and Banking sectors, which dominated market interest throughout the session.

Daily turnover stood at Rs. 1.5 billion, marking a 43.8% drop compared to the monthly average of Rs. 2.6 billion. The Food, Beverage, and Tobacco sector led the day, contributing 35% to total turnover, while Banks and Diversified Financials jointly accounted for 24%.

NDB securities said high net worth and institutional investor participation was noted in Hatton National Bank, Dialog Axiata and Vallibel One.

Mixed interest was observed in Ceylon Tobacco Company, Browns Investments and Kotagala Plantations, whilst retail interest was noted in Hela Apparel Holdings, Sierra Cables and Alumex.

Food, Beverage, and Tobacco sector was the top contributor to the market turnover (due to Ceylon Tobacco Company, Browns Investments and Kotagala Plantations) whilst the sector index gained 0.70%. The share price of Ceylon Tobacco Company decreased by Rs. 4.25 to close at Rs. 1,347.25. The share price of Browns Investments recorded a gain of 10 cents to close at Rs. 7.90.

The share price of Kotagala Plantations appreciated by one rupee to close at Rs. 10.90.

The Banking sector was the second highest contributor to the market turnover (due to Hatton National Bank) whilst the sector index edged up by 0.10%. The share price of Hatton National Bank lost 75 cents to close at Rs. 293. Dialog Axiata was also included amongst the top turnover contributors. The share price of Dialog Axiata closed flat at Rs. 14.50.

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