Four-day winning streak ends at Colombo stock market

Thursday, 1 May 2025 01:38 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended its four-day winning streak as indices dipped amidst healthy turnover.

The benchmark ASPI declined by 0.4% and the active S&P SL20 by 0.6%. Turnover was Rs. 2.37 billion involving 124.8 million shares.

First Capital said the Colombo bourse slipped into the red, breaking the four-day positive streak, as selling pressure emerged from investors. The ASPI experienced volatility and closed with a 67-point decline at 15,800. HNB, SAMP, CTHR, COMB, and NDB emerged as the top negative contributors to the index. Investors sought after profits in today’s session, largely contributed by the HNW segment, whilst retail investors expressed moderate engagement.

The Banking sector led the overall market decline, followed by Diversified Financials and Food, Beverage and Tobacco counters, as profit-taking was primarily observed in these segments. The turnover reflected a 6.7% decrease from the monthly average. The Food, Beverage and Tobacco sector led today’s turnover with a 23% share, followed by the Diversified Financials and Capital Goods sectors jointly accounting for 31%. Foreign investors turned net sellers, with a net outflow of Rs. 90.6 million.

NDB Securities said high net worth and institutional investor participation was noted in Printcare, Lanka IOC, and Central Finance Company. Mixed interest was observed in Sunshine Holdings, John Keells Holdings, and Sampath Bank, whilst retail interest was noted in Nation Lanka Finance, Panasian Power, and Marawila Resorts.

During April, both the ASPI and S&P SL20 lost 0.09% and 1.9%, respectively, while recording an average turnover of Rs. 2.54 billion.

The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Sunshine Holdings), whilst the sector index gained 0.23%. The share price of Sunshine Holdings closed flat at Rs. 23.30.

The Diversified Financials sector was the second highest contributor to the market turnover (due to Central Finance Company), whilst the sector index decreased by 0.66%. The share price of Central Finance Company declined by Rs. 1.75 to Rs. 196.25.

Printcare, John Keells Holdings, and Lanka IOC were also included amongst the top turnover contributors. The share price of Printcare gained Rs. 4.30 to Rs. 66. The share price of John Keells Holdings moved down by Rs. 0.10 to Rs. 20.70. The share price of Lanka IOC recorded a gain of Rs. 0.25 to Rs. 129.

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