CSE indices soar; turnover tops Rs. 10 b as market ends on a high

Saturday, 12 July 2025 01:18 - - {{hitsCtrl.values.hits}}

The Colombo stock market reopened after a day off and sustained its all-time high level yesterday amidst healthy turnover fuelled by bullish investor sentiment ending the week on the up.

The benchmark ASPI surged past the 18,500 mark for the first time, setting a fresh record and reinforcing confidence in the market in the wake of increased certainty regarding US reciprocal tariffs and the UK’s upgraded trade reforms.

The ASPI gained 380 points or 2.09%, pushing it above the 18,500 milestone to close at 18,541, while the active S&P gained by 128 points or 2.39%.

Turnover yesterday was Rs. 10.22 billion involving 304.20 million shares. During the week, both ASPI and the S&P SL20 gained 2.2%, whilst recording an average daily turnover of

Rs. 6.88 billion.

However, the foreign participation in the market activity remained at subdued levels closing as net sellers, with a net outflow of

Rs. 1.2 billion.

First Capital said the Colombo Stock Exchange resumed trading after a day off and closed the week on a positive note with strong sentiment across the board. The index exhibited steady upward momentum, driven by sustained engagement and confidence from both retail and high net worth (HNW) investors. This came in the wake of increased certainty regarding reciprocal tariffs, with Sri Lanka being one of the nations to see the steepest reductions relative to the initially proposed amounts. Furthermore, the UK’s upgraded trade reforms which are expected to boost exports and jobs by granting Sri Lanka easier tariff free access for garments, added to yesterday’s overall bullish sentiment.

The index was uplifted by Banking sector counters such as SAMP, HNB, COMB and DFCC alongside key conglomerate, JKH.

High levels of investor activity resulted in a high turnover of Rs. 10.2 billion, which reflects a 99% increase over the monthly average of Rs. 5.1 billion. The Banking sector led the turnover, accounting for 27% of yesterday’s total, followed by the Capital Goods and Diversified Financial sectors, which together contributed around 32%.

NDB Securities said high net worth and institutional investor participation was noted in Pan Asia Banking Corporation, Hatton National Bank and Chevron Lubricants.

Mixed interest was observed in John Keells Holdings, Sampath Bank and Commercial Bank, whilst retail interest was noted in Dankotuwa Porcelain, HNB Finance Nonvoting and Singhe Hospitals.

The Banking sector was the top contributor to the market turnover (due to Pan Asia Banking Corporation, Hatton National Bank and Sampath Bank), whilst the sector index gained 3.01%. The share price of Pan Asia Banking Corporation increased by Rs. 3.20 to close at Rs. 48.70. The share price of Hatton National Bank moved up by Rs. 12.75 to close at Rs. 346.75. The share price of Sampath Bank recorded a gain of Rs. 5.25 to close at Rs. 132.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings), whilst the sector index increased by 2.62%.

The share price of John Keells Holdings gained 60 cents to close at Rs. 24.10. Hayleys Fabric was also included amongst the top turnover contributors. The share price of Hayleys Fabric declined by 60 cents to close at Rs. 46.40.

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