Colombo stock market gathers further momentum

Friday, 16 May 2025 05:03 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday gathered further momentum, with a sharp rise in indices and turnover on the back of bullish investor sentiment.

The benchmark ASPI gained by 1.15% or 183.5 points and the active S&P SL20 by 1.3%. Turnover was Rs. 4.5 billion involving 180 million shares.

Turnover was led by JKH (Rs. 470 million), Lanka Realty Investments (Rs. 467 million), Commercial Bank (Rs. 291 million), LOLC Holdings (Rs. 280 million), and Sampath Bank (Rs. 185 million).

First Capital said the bourse extended its bullish momentum from Wednesday (14), as investors engaged in an active trading session driven by sustained optimism.

MELS, SAMP, COMB, SPEN, and HAYL were the key positive contributors to the index. Retail and HNW investors demonstrated active trading, showcasing positive sentiment, primarily towards the Banking sector and blue-chip counters.

Turnover marked a significant increase of 120.1% compared to the monthly average. The Banking sector led turnover, contributing 21%, driven by positive earnings reported in recent quarterly results. The Capital Goods and Diversified Financials sectors were next in line, jointly accounting for 36% of overall turnover.

Foreign investors turned net sellers, with a net outflow of Rs. 96.8 million.

NDB Securities said high net worth and institutional investor participation was noted in John Keells Holdings, Melstacorp, and Amaya Leisure. Mixed interest was observed in Lanka Realty Investments, LOLC Holdings, and Commercial Bank, whilst retail interest was noted in Browns Investments, LOLC General Insurance, and Prime Lands Residencies.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Sampath Bank), whilst the sector index gained 1.27%. The share price of Commercial Bank moved up by Rs. 2.75 to Rs. 142.75. The share price of Sampath Bank appreciated by Rs. 2.50 to Rs. 113.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings), whilst the sector index increased by 1.01%. The share price of John Keells Holdings increased by Rs. 0.20 to Rs. 20.60.

Lanka Realty Investments and LOLC Holdings were also included amongst the top turnover contributors. The share price of Lanka Realty Investments gained Rs. 2.40 to Rs. 14.40. The share price of LOLC Holdings recorded a gain of Rs. 11.50 to Rs. 592.50.

Separately, Lanka IOC PLC announced a first and final dividend of Rs. 5 per share.

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