On Tuesday, the Colombo Stock Exchange witnessed a downturn, with the All Share Index dropping by 1.12 percent to 12,358 points and the S&P SL20 Index declining by 1.39 percent to 3,671 points, according to data from the exchange. The market’s total turnover amounted to 3.3 billion. Analysts attributed the decline primarily to political uncertainty, which spurred selling pressure on banks and index-heavyweights.
Despite the overall downturn, certain sectors saw notable activity. Retail and high-net-worth investors showed interest in Ceylon Tobacco Company Plc and Chevron Lubricants Lanka Plc, buoyed by their favorable financial performance. Additionally, there was increased trading activity in the construction sector, indicating investor interest in specific segments amid broader market concerns.
Royal Ceramics Lanka Plc remained a focal point for investors, with significant trading volume recorded at Rs 75,104 million. However, the company’s share price closed lower at Rs 36.30. Among the day’s top contributors to turnover was John Keells Holdings Plc, though its share price also experienced a decline, closing at Rs 203.25. The day concluded with a net foreign outflow of 587 million, underscoring the cautious sentiment prevailing among foreign investors in the Sri Lankan market.