CSE enjoys merry May as best after lapse of eight months

Monday, 2 June 2025 05:29 - - {{hitsCtrl.values.hits}}

The Colombo stock market in May achieved its best-ever performance in eight months thanks to a rebound in bullish investor sentiments.

May saw the benchmark ASPI gaining by 6.68%, the highest since October 2024’s 7.7% jump. The active S&P SL20 in May shot up by 7.28%, also the highest since October 2024’s 12% increase.

The month of May also achieved its first gain in indices after January.

Analysts opined the rebound was due to investors seeing buying opportunities after the market had slipped to negative territory year-to-date (YTD) in April. Relatively healthier corporate earnings as well as a few strategic deals in the market also propped up investor sentiments.

In May, average daily turnover was Rs. 4.2 billion, almost double in comparison to Rs. 2.5 billion in April.

May saw one of the biggest deals in the Colombo Stock Exchange’s (CSE) history when high net worth investor and leading businessman Nandana Lokuwithana via Ceylon Steel Corporation Ltd., paid Rs. 14 billion to buy 9.9% stake in HNB from Browns Investments PLC on 27 May.

The month was positive in terms of net foreign inflow of Rs. 136 million, though partially impacted by net selling in the last week of May. YTD, the CSE has seen a net outflow of Rs. 9.8 billion.

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