Colombo stock market remains bullish with high turnover

Friday, 30 May 2025 00:40 - - {{hitsCtrl.values.hits}}

The Colombo stock market gathered further momentum yesterday with high turnover and relatively higher gain in indices in tandem with bullish investor sentiment.

The benchmark ASPI gained by 0.6% and the active S&P SL20 by 0.9%. Turnover was Rs. 6.4 billion involving 173.85 million shares. Turnover was led by Sampath Bank (Rs. 1.58 billion), LOLC Holdings (Rs. 660.5 million), Hemas Holdings (Rs. 447 million), and Sierra Cables (Rs. 228.6 million).

Foreigners remained net sellers for the second consecutive day.

First Capital said the Colombo Stock Exchange extended its positive run, as the index demonstrated a steady upward trajectory throughout the session, with minimal volatility, ultimately ending the day in positive territory. The rally was primarily driven by notable gains in LOLC, CCS, JKH, HAYL, and CFIN, which emerged as the top contributors to the day’s performance. Investor sentiment remained broadly optimistic, underpinned by active participation from both HNW and retail investors. Notably, heightened interest from HNW investors was observed in SAMP during the session. Market turnover reflected a significant 70% increase compared to the monthly average.

The Banking sector led in terms of turnover, accounting for 31% of the total, while the Capital Goods and Diversified Financials sectors collectively contributed 39%. However, foreign investors continued to remain cautious, registering a net outflow of Rs. 218 million.

NDB Securities said high net worth and institutional investor participation was noted in Sampath Bank, LOLC Holdings and Hemas Holdings. Mixed interest was observed in Sierra Cables, Central Finance Company and Sunshine Holdings whilst retail interest was noted in Singhe Hospitals, Hela Apparel Holdings and Lanka Credit and Business Finance.

The Banking sector was the top contributor to the market turnover (due to Sampath Bank) whilst the sector index gained 0.28%. The share price of Sampath Bank increased by 50 cents to Rs. 114.25.

The Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings and Sierra Cables) whilst the sector index increased by 1.06%. The share price of Hemas Holdings moved up by 50 cents to Rs. 28. The share price of Sierra Cables recorded a gain of 40 cents to Rs. 18.10.

LOLC Holdings and Central Finance Company were also included amongst the top turnover contributors. The share price of LOLC Holdings gained Rs. 23.50 to Rs. 623.50. The share price of Central Finance Company appreciated by Rs. 5.50 to Rs. 213.75.

Separately the following companies announced interim dividends: Rs. 0.55 per share for RIL Property, Rs. 4.00 per share for Chevron Lubricants, Rs. 0.60 per share for Prime Land Residencies and Rs. 2.00 per share for United Motors Lanka.

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