US tariff deal propels ASPI over 19,900 to new high

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Ends week on the up: ASPI and S&P SL20 gain 2.3% and 2.4% respectively

The Colombo stock market yesterday ended the week on the up in an apparent vote of investor confidence on the US tariff deal, pushing the ASPI past 19,900 to a new all-time high.

The benchmark ASPI gained by 1.38% or over 271.77 points and the active S&P SL20 by 2.30%. Turnover was Rs. 7.36 billion involving 416.71 million shares.

During the week, the ASPI and the S&P SL20 gained 2.3% and 2.4% respectively, whilst recording an average daily turnover of Rs. 6.42 billion.

First Capital said the Colombo Stock Exchange yesterday experienced a session driven by bullish sentiment and high levels of investor involvement, particularly from the retail segment, as the market continued to build on the positive momentum observed over the past few weeks.

The ASPI gained 272 points, closing the week at 19,914. The index saw some volatility in the early hours, but once it found its footing, a steady upward trend was observed. Investor sentiment was further strengthened by the favourable verdict on US tariffs, which were set at 20% for Sri Lanka and by strong earnings reports as interim financial results began to be released.

Key positive contributors for the day were HNB, JKH, COMB, DFCC and NDB.

Daily turnover amounted to Rs. 7.4 billion, which is broadly in line with the monthly average that stands at Rs. 7.2 billion.

The Banking sector dominated turnover, contributing 30%, followed by the Materials and Capital Goods sectors with a joint contribution of 28%.

Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers with a net outflow of Rs. 144 million.

NDB high net worth and institutional investor participation was noted in Commercial Bank, Digital Mobility Solutions Lanka and Pan Asia Banking Corporation.

Mixed interest was observed in Dipped Products, John Keells Holdings and DFCC Bank, whilst retail interest was noted in Co-Operative Insurance Company, Softlogic Finance and Cargills Bank.

The Banking sector was the top contributor to the market turnover (due to Pan Asia Banking Corporation and Commercial Bank) whilst the sector index gained 2.90%. The share price of Pan Asia Banking Corporation gained Rs. 2.90 to close at Rs. 56.90. The share price of Commercial Bank moved up by Rs. 4.25 to close at Rs. 174.

Materials sector was the second highest contributor to the market turnover (due to Dipped Products), whilst the sector index increased by 0.84%. The share price of Dipped Products increased by Rs. 2.90 to close at Rs. 63.90.

John Keells Holdings and Digital Mobility Solutions Lanka were also included amongst the top turnover contributors. The share price of John Keells Holdings recorded a gain of 70 cents to close at Rs. 24.60. The share price of Digital Mobility Solutions Lanka appreciated by Rs. 5.90 to close at Rs. 90.40.

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