Mixed sentiment at Colombo stock market

Saturday, 10 May 2025 00:44 - - {{hitsCtrl.values.hits}}

The Colombo stock market yesterday ended the week with mixed sentiment.

During the week, both the benchmark ASPI and the active S&P SL20 gained 0.4% but on Friday S&P SL20 gained by 0.06% while the ASPI lost by 9.75 points or 0.06% on Friday. Turnover yesterday was over Rs. 1.54 billion involving 97.21 million shares. Turnover during the week averaged Rs. 1.98 billion.

Foreign participation in the market activity remained at subdued levels, though it turned positive with net inflows totalling Rs. 0.9 million.

First Capital said the Colombo Stock Exchange yesterday ended the session flat, with the ASPI falling marginally by 10 points to close at 15,916. Despite an early uptick, the index faced a sharp intraday decline, followed by volatile movements, ultimately closing marginally in the red.

Downward pressure on the index was primarily driven by losses in key counters including CARG, HHL, TJL, SPEN, and RCL. Sector-wise, trading activity was dominated by the Materials sector, which accounted for 21% of total turnover. The Food, Beverage and Tobacco and Capital Goods sectors collectively contributed 32% to overall activity. Total market turnover amounted to Rs. 1.5 billion, marking a 34.5% drop from the monthly average of Rs. 2.4 billion, indicating a subdued trading session.

NDB Securities said high net worth and institutional investor participation was noted in ACME Printing & Packaging, LB Finance and Chevron Lubricants. Mixed interest was observed in Ceylon Grain Elevators, Hatton National Bank and R I L Property whilst retail interest was noted in HNB Finance, Prime Lands Residencies and Sunshine Holdings.

Materials sector was the top contributor to the market turnover (due to ACME Printing & Packaging and Swisstek) whilst the sector index edged down by 0.09%. The share price of ACME Printing & Packaging closed flat at Rs. 4.80. The share price of Swisstek appreciated by Rs. 1.30 to close at Rs. 53.

Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Ceylon Grain Elevators) whilst the sector index increased by 0.16%. The share price of Ceylon Grain Elevators gained Rs. 12.25 (6.06%) to close at Rs. 214.25. Hatton National Bank and R I L Property were also included amongst the top turnover contributors. The share price of Hatton National Bank moved up by Rs. 1.50 to close at Rs. 295.25. The share price of R I L Property recorded a loss of 10 cents to close at Rs. 16.80.

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