Colombo stock market sustains all-time high level

Friday, 6 June 2025 00:08 - - {{hitsCtrl.values.hits}}

The Colombo stock market sustained its all-time high level yesterday amidst healthy turnover fuelled by bullish investor sentiment.

The benchmark ASPI gained by 82 points or 0.47% and the active S&P SL20 by 0.5%.

The ASPI has gained by over 2,770 points since its lowest for the year, and 1,500 points year-to-date. The ASPI reached its all-time high on Tuesday (3).

Turnover was Rs. 5.6 billion involving 222 million shares.

Turnover was led by People’s Leasing and Finance (Rs. 329 million including 10 million shares at Rs. 18.50 each via two crossings), Browns Investments (Rs. 228.7 million), JKH (Rs. 226 million), Hemas Holdings (Rs. 219 million), and LMF (Rs. 199 million).

First Capital said the market opened with a mild uptick, experienced a sharp intraday dip, and subsequently rebounded to end firmly in positive territory. The rally was largely driven by strength in key counters such as JKH, SAMP, HNB, LION, and DIPD. Investor sentiment remained broadly positive, supported by increased retail participation. While interest from HNW investors was relatively subdued, selective activity was observed in PLC.

Turnover was above 24% from the monthly average. The Capital Goods sector led activity, contributing 22% of total turnover, followed by the Diversified Financials and Materials sectors, which jointly accounted for 34%.

Foreign investors turned net buyers, posting a net inflow of Rs. 41.4 million, indicating a cautious yet improving outlook amid persistent global uncertainties.

NDB Securities said high net worth and institutional investor participation was noted in People’s Leasing & Finance, Commercial Bank, and Aitken Spence. Mixed interest was observed in Hemas Holdings, Lanka Milk Foods, and LB Finance, whilst retail interest was noted in Browns Investments, Beruwala Resorts, and Singhe Hospitals.

The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings and Hemas Holdings), whilst the sector index gained 1.21%. The share price of John Keells Holdings moved up by Rs. 0.40 to Rs. 21.80. The share price of Hemas Holdings recorded a gain of Rs. 0.20 to Rs. 29.90.

The Diversified Financials sector was the second highest contributor to the market turnover (due to People’s Leasing & Finance), whilst the sector index increased by 0.21%. The share price of People’s Leasing & Finance increased by Rs. 0.10 to Rs. 18.80.

Browns Investments and Lanka Milk Foods were also included amongst the top turnover contributors. The share price of Browns Investments gained Rs. 0.20 to Rs. 8.40. The share price of Lanka Milk Foods appreciated by Rs. 2.30 to Rs. 52.30.

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