Colombo stock market gains sharply as investor sentiment rebounds

Thursday, 15 May 2025 01:04 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday shot up sharply, with the benchmark index reverting back to the 16,000-points level amidst healthy investor sentiment and activity.

The ASPI gained by 215 points or 1.35% to close at 16,131 points. The active S&P SL20 gained by 1.6%. Turnover was Rs. 3.3 billion involving 123.4 million shares.

The market’s performance mirrored how some of its peers did following the breakthrough in trade talks between the US and China.

First Capital said the bourse reopened after the long holiday weekend, kicking the week off on a strong note with robust investor participation driving early momentum. The ASPI showed steady growth throughout the session, gaining 215 points to close at 16,131, marking its first time above the 16,000 mark since 2 April 2025.

HNB, CFIN, COMB, SAMP, and SPEN were the key positive drivers of the index. The easing of China-US tariffs and an immediate India-Pakistan ceasefire boosted global sentiment, sparking a strong market rebound as both HNW and retail investors returned from the holidays with renewed optimism and active participation. Investor sentiment was elevated towards certain Hotel sector and blue-chip counters, whilst the Diversified Financials sector registered the highest in terms of sector-wise returns.

The turnover was a 46.9% increase from the monthly average. The Capital Goods sector led the turnover with a 30% share, followed by the Diversified Financials and Food, Beverage and Tobacco sectors jointly accounting for 31%. Foreign investors remained net buyers, with a net inflow of Rs. 25.5 million.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Sunshine Holdings, and LB Finance. Mixed interest was observed in Aitken Spence, Central Finance Company, and Dialog Axiata, whilst retail interest was noted in Hela Apparel Holdings, Browns Investments, and LVL Energy Fund.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Aitken Spence) whilst the sector index gained 1.26%. The share price of John Keells Holdings increased by Rs. 0.20 to Rs. 20.40. The share price of Aitken Spence moved up by Rs. 5 to Rs. 130.25.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Central Finance Company), whilst the sector index increased by 2.57%. The share price of Central Finance Company gained Rs. 11.75 to Rs. 209.25.

Dialog Axiata and Lanka IOC were also included amongst the top turnover contributors. The share price of Dialog Axiata recorded a gain of Rs. 0.10 to Rs. 14.60. The share price of Lanka IOC appreciated by Rs. 3 to Rs. 132.

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