The Colombo stock market witnessed another steep decline as selling pressure persisted among investors. The All Share Price Index (ASPI) dropped 1.6% (255 points), while the S&P SL20 also declined 1.6%. Turnover rose to Rs. 1.7 billion, up from Rs. 1.2 billion on Monday but remained below the monthly average of Rs. 2.7 billion.
Key Market Trends:
- Banking sector led the decline, with NDB (-2.9%), COMBN (-2.3%), HNBN (-1.6%), and SAMP (-0.8%) recording losses.
- CINSN (-18 points), COMBN (-17 points), and HNBN (-13 points) were the major contributors to the index decline.
- Foreign investors were net sellers, with a net outflow of Rs. 50.5 million.
- Sectoral turnover contributions: Banking (24%), Capital Goods & Food, Beverage and Tobacco (41%) combined.
Top Stocks by Turnover:
- Browns Investments (BIL) – Rs. 182 million
- Sampath Bank (SAMP) – Rs. 137 million
- Vallibel One (VONE) – Rs. 136 million
Retail investors were highly active, while high-net-worth and institutional investors focused on John Keells Holdings, Browns Investments, and Sampath Bank. The market remains under pressure amid profit-taking and margin calls.