Colombo stock market rebounds on improved sentiment

Thursday, 10 July 2025 00:08 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday bounced back to positive territory inspired by fresh buying.

The benchmark ASPI gained by 129 points or 0.7% and the active S&P SL20 also by 0.7%.

Turnover was Rs. 5.98 billion involving 176.6 million shares.

First Capital said the market sustained its bullish momentum throughout the day ahead of the US tariff announcement concerning Sri Lanka, rebounding from Tuesday’s (8) losses amidst strong participation from both retail and HNW investors.

Banking and Construction sector stocks led the rally, with selective interest also seen in Real Estate and Automobiles sector counters. Key positive contributors to the index included JKH, HNB, CFIN, RIL, and MELS.

Turnover was 17% higher compared to the monthly average supported by several off-board transactions. The Diversified Financials sector dominated turnover, contributing 21% of the total, followed by the Capital Goods and Materials sectors, which collectively accounted for around 25%. Foreign investors remained net sellers with a net outflow of Rs. 84.4 million.

NDB Securities said high net worth and institutional investor participation was noted in CIC Holdings, R I L Property, and Singer Finance. Mixed interest was observed in Commercial Bank, Hayleys Fabric, and Lanka IOC, whilst retail interest was noted in Citrus Leisure, Sathosa Motors, and Singhe Hospitals.

The Diversified Financials sector was the top contributor to the market turnover, whilst the sector index gained 1.60%. The Materials sector was the second highest contributor to the market turnover, whilst the sector index increased by 1.55%.

R I L Property, East West Properties, Access Engineering, Commercial Bank, and Three Acre Farms were also included amongst the top turnover contributors. The share price of R I L Property increased by Rs. 2.50 to Rs. 27.80. The share price of East West Properties gained Rs. 2.10 to Rs. 33.90.

The share price of Access Engineering moved up by Rs. 1 to Rs. 49. The share price of Commercial Bank recorded a gain of Rs. 0.50 to Rs. 160. The share price of Three Acre Farms appreciated by Rs. 56.75 to Rs. 556.75.

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