Colombo stock market ends week with 3% gain

Saturday, 17 May 2025 01:19 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended the shortened-trading week on a bullish note with improved turnover on the back of return of investor optimism.

During the week, the benchmark ASPI gained by 2.9% and the active S&P SL20 by 3.5%.

Average daily turnover was Rs. 3.67 billion. In contrast, the indices gained by only 0.4% last week with turnover averaging Rs. 2 billion.

On Friday, the ASPI gained by 0.4% and the S&P SL20 by 0.5%. Turnover was Rs. 3.11 billion involving 153.8 million shares.

First Capital said the shortened trading week closed on a positive note, with strong sentiment and heightened activity, as the Bourse enjoyed yet another bullish trading session.

The ASPI surged early on, followed by moderate gains throughout the rest of the day, ending with a rise of 65 points, to close at 16,379.

JKH, LOLC, CARS, EBCR and SAMP were the key drivers of the index. Retail participation saw a notable climb, followed by a significant rise in HNW involvement, with investors showing positive sentiment towards specific Plantation counters and mid-cap stocks such as PKME, LCBF, and PABC. The Capital Goods sector led yesterday’s turnover, contributing 21%, followed by the Banking, and Food, Beverage and Tobacco sectors, jointly accounting for 36%.

Asia Securities said the indices concluded the week in green supported by price gains in LOLC (+3.0%), CICN (+2.5%), and DIAL (+2.0%). Moreover, investors showed increased interest in property sector stocks such as AGPL (+7.1%) and WATA (+1.3%) during the session. JKH (+15 points), LOLC (+13 points), and CARS (+12 points) came in as the major index movers for the day. The market breadth was positive with 119 price gainers and 99 decliners.

Market turnover was led by JKH (Rs. 324 million) PABC (Rs. 136 million) and SAMP (Rs. 125 million).

Foreigners recorded a net inflow of Rs. 157.2 million. Net foreign buying topped in JKH at Rs. 58.9 million and selling topped in KHL at Rs. 8.6 million.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Digital Mobility Solutions Lanka and Pan Asia Banking Corporation. Mixed interest was observed in Sampath Bank, Hatton National Bank and Agarapatana Plantations whilst retail interest was noted in Luminex, Cargills Bank and Browns Investments.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings) whilst the sector index gained 1.27%. The share price of John Keells Holdings increased by 40 cents to Rs. 21.

The Banking sector was the second highest contributor to the market turnover (due to Pan Asia Banking Corporation, Sampath Bank and Hatton National Bank) whilst the sector index edged up by 0.04%. The share price of Pan Asia Banking Corporation gained 10 cents to Rs. 38.60. The share price of Sampath Bank moved up by 75 cents to Rs. 114.25. The share price of Hatton National Bank edged up by 25 cents to Rs. 305.25.

Dialog Axiata was also included amongst the top turnover contributors with its share price gaining by 30 cents to Rs. 15.10.

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