Colombo stock market turns negative over external factors

Saturday, 14 June 2025 00:59 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday saw a sell-off of sorts largely influenced by external factors though early gains ensured a modest gain for the week.

The benchmark ASPI declined by 1.3% and the active S&P SL20 by 1.6%. For the week the ASPI and the S&P SL20 gained 0.2% and 0.3% respectively. Turnover yesterday was 4 billion involving 164.7 million shares.

First Capital said the Bourse experienced a highly volatile trading day, marked by lower investor engagement compared to previous sessions and widespread profit taking sentiment.

The ASPI opened with a steep dip, briefly rebounded, then dropped sharply again before making a moderate climb amid volatility, ultimately ending in the red at 17,427, having shed 234 points.

HNB, MELS, DFCC, SAMP and JKH were the key counters that exerted downward pressure on the index.

Global geopolitical tensions sparked concern among retail investors, prompting a selling stance that led to price declines. This was later followed by bargain buying, which provided momentary relief to the index. Trading activity was driven by retail participants, while HNW investors displayed more subdued involvement.

The Diversified Financials sector led turnover, contributing 25%, followed by the Banking, and Capital Goods sectors, jointly accounting for 33%. Foreign investors turned net sellers, with a net outflow of Rs. 17.7 million.

NDB Securities said high net worth and institutional investor participation was noted in Capital Alliance Holdings Ltd., Digital Mobility Solutions Lanka and Commercial Bank. Mixed interest was observed in Sampath Bank, John Keells Holdings and Central Finance Company whilst retail interest was noted in SMB Leasing, LOLC Finance and HNB Finance.

The Diversified Financials sector was the top contributor to the market turnover (due to Capital Alliance Holdings Ltd. and Central Finance Company) whilst the sector index lost 1.06%. The share price of Capital Alliance Holdings increased by 40 cents to Rs. 16.90.

The share price of Central Finance Company recorded a loss of Rs. 4.25 to Rs. 240.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings) whilst the sector index decreased by 1.31%. The share price of John Keells Holdings moved down by 30 cents to Rs. 22.

Sampath Bank and Dialog Axiata were also included amongst the top turnover contributors. The share price of Sampath Bank lost Rs. 2 to Rs. 120. The share price of Dialog Axiata appreciated by 10 cents to Rs. 19.20.

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