Locals pause CSE upward trend but foreigners bullish

Wednesday, 21 May 2025 00:06 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday paused its recent upward trend as investor optimism waned amidst low activity though foreigners remained upbeat.

The benchmark ASPI declined by 0.37% and the active S&P SL20 by 0.5%. Turnover was Rs. 1.5 billion involving 58.4 million shares. Turnover led by JKH (Rs. 114 million) COMBN (Rs. 92 million) and HAYL (Rs. 76 million).

First Capital said after a brief uptick early in the session, the index declined sharply, weighed down by price declines in Banking sector counters HNB and SAMP, and conglomerates JKH and SPEN. While HNW investors showed selective interest in Banking stocks and JKH, overall market activity remained subdued during today’s session. Turnover was lower by 37.9% as against the monthly average. The Banking sector led activity with 23%, followed by Capital Goods and Diversified Financials, which together contributed 39%.

Asia Securities said HNBN (-6 points), SAMP (-5 points), and LOLC (-4 points) came in as the major laggards for the day. The market breadth was negative with 56 price gainers and 134 decliners.

Foreigners recorded a net inflow of Rs. 170 million. Net foreign buying topped in COMB.N at Rs. 71.2 million and selling topped in AGPL at Rs. 6 million.

NDB Securities said high net worth and institutional investor participation was noted in Sampath Bank, Commercial Bank, and National Development Bank. Mixed interest was observed in John Keells Holdings, Hayleys and JAT Holdings whilst retail interest was noted in Beruwala Resorts, Kotagala Plantations and Browns Investments.

The Banking sector was the top contributor to the market turnover (due to Commercial Bank and Sampath Bank) whilst the sector index gained 0.56%. The share price of Commercial Bank lost 50 cents to Rs. 143. The share price of Sampath Bank declined by 75 cents to Rs. 113.75.

The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and Hayleys) whilst the sector index increased by 0.44%. The share price of John Keells Holdings decreased by 10 cents to Rs. 21.10. The share price of Hayleys moved up by 25 cents to Rs. 141.00.

JAT Holdings was also included amongst the top turnover contributors with its share price gaining by 30 cents to Rs. 31.60.

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