The Colombo stock market closed higher yesterday, overcoming midday struggles to post modest gains.
The benchmark All Share Price Index (ASPI) rose by 12 points, while the more active S&P SL20 gained 19 points. Total market turnover stood at Rs. 1.25 billion, with 56.8 million shares traded.
First Capital noted that market activity remained subdued, with turnover reflecting low participation levels. Despite early gains that pushed the ASPI past 15,500, profit-taking led to a midday dip, limiting the overall increase. Key positive contributors included Commercial Bank (COMB), Hatton National Bank (HNB), Melstacorp (MELS), National Development Bank (NDB), and Sampath Bank (SAMP), while LOLC, Browns Investments (BIL), Hemas Holdings (HHL), John Keells Holdings (JKH), and Ceylon Cold Stores (CCS) exerted downward pressure.
Asia Securities highlighted that after two consecutive losing sessions, the market turned positive, led by gains in COMBN (+1.8%), HNBN (+1.3%), SAMP (+0.8%), and CFIN (+0.7%). COMBN, HNBN, and MELS were the top index movers. However, market breadth was negative, with 88 gainers and 100 decliners.
Turnover was driven by JKH (Rs. 145 million), HNBN (Rs. 86 million), and BIL (Rs. 71 million). Foreign investors recorded a net inflow of Rs. 14.2 million, with net buying in HNB.N (Rs. 14.8 million) and net selling in HAYL (Rs. 8 million).
According to NDB Securities, high-net-worth and institutional investors were active in JKH, HNB, and Access Engineering, while mixed interest was observed in Browns Investments, Hemas Holdings, and Commercial Bank. Retail trading was evident in SMB Leasing, Industrial Asphalts, and Waskaduwa Beach Resort.
The Capital Goods sector led market turnover, mainly due to JKH and Hemas Holdings, though the sector index fell 0.37%. JKH’s share price dropped by Rs. 0.10 to Rs. 20.10, while Hemas Holdings declined by Rs. 2.50 to Rs. 115.
The Banking sector ranked second in turnover contribution, with the sector index rising 1.08%. HNB’s share price increased by Rs. 3.75 to Rs. 303.75, and Commercial Bank saw a gain of Rs. 2.50 to Rs. 138.75.
Browns Investments also featured among top contributors, though its share price dipped by Rs. 0.20 to Rs. 7.10.