The Colombo Stock Exchange (CSE) witnessed a modest recovery on Wednesday, rebounding slightly from Tuesday’s decline despite a notable drop in trading turnover compared to recent sessions.
The benchmark All Share Price Index (ASPI) edged up by 8 points (0.06%), while the active S&P SL20 gained 5 points (0.13%). The day’s turnover amounted to Rs. 2.7 billion, with 137.5 million shares traded.
Sector Performance and Key Contributors
First Capital reported that the market displayed volatility as banks and blue-chip stocks experienced mixed trading activity. Significant contributors to the index’s gains included John Keells Holdings (JKH), Commercial Bank (COMB), Lanka IOC (LIOC), Access Engineering (AEL), and R.I.L. Property (RIL).
Investor interest was observed in the Food, Beverage & Tobacco sector, led by Ceylon Cold Stores (CCS) and Watawala Plantations (WATA), along with the Hotel sector. However, both retail and high-net-worth (HNW) investor activity saw a dip, with turnover dropping 26.8% below the monthly average.
The Capital Goods sector led the turnover, contributing 26%, followed by the Banking and Food, Beverage & Tobacco sectors, which collectively accounted for 34% of the total turnover.
Foreign Participation
Foreign investors remained net sellers, recording a net outflow of Rs. 366 million, reflecting subdued foreign participation in the day’s trading.
Stock Highlights
- Capital Goods Sector: John Keells Holdings (JKH) emerged as the top turnover contributor. Its share price increased by 20 cents to Rs. 20.70, leading to a 0.64% rise in the sector index.
- Banking Sector: Commercial Bank and Sampath Bank were significant contributors. The share price of Commercial Bank rose by Rs. 1 to Rs. 123.25, while Sampath Bank’s share price dipped by 30 cents to Rs. 94.70.
- R.I.L. Property and Lanka Milk Foods: These stocks also ranked among the top turnover contributors. The share price of R.I.L. Property rose by 90 cents to Rs. 10.20, and Lanka Milk Foods saw a Rs. 1.10 increase, closing at Rs. 33.10.
Market Sentiment
NDB Securities noted that institutional and HNW investor participation was concentrated in John Keells Holdings, CIC Holdings, and Sampath Bank. Retail interest was evident in stocks such as SMB Leasing (non-voting), Softlogic Capital, and LOLC Finance.
As the CSE continues to navigate fluctuating investor sentiment, the modest recovery on Wednesday highlights resilience amid broader economic challenges.