ASPI Rises as Banking Counters Lead Market Rally

By Almas Equities Research

The Colombo Stock Exchange witnessed a mixed trading session today, with the ASPI closing in positive territory, while the S&P SL20 ended marginally lower, reflecting a shift in sectoral momentum. Investor sentiment was shaped by a series of notable corporate developments, including Hayleys PLC’s announcement of its entry into the supermarket industry and a share subdivision by Bairaha Farms PLC, both of which attracted significant market attention. Additionally, ongoing quarterly earnings releases and anticipation surrounding upcoming corporate results continued to drive activity across multiple sectors.

Maintaining its momentum, the Banking sector dominated trading once again, emerging as the top contributor with a turnover of LKR 1.98 billion, accounting for 21% of total market activity. CBNK.N led the sector with an impressive LKR 909 million generated through active trading, highlighting sustained investor interest in banking counters.

By market close, the ASPI advanced 59.88 points or 0.26% to end at 22,850.95, while the S&P SL20 slipped 7.99 points or 0.13% to close at 6,268.87. Total market turnover reached LKR 9.24 billion, supported by 307.69 million shares traded during the session. Crossings contributed LKR 2.56 billion, representing 27% of total turnover. The largest crossing by turnover was recorded in DFCC.N at LKR 823.90 million, while LGL.N reported the highest crossing by volume with 11.01 million shares changing hands.

Market breadth reflected selective strength across sectors, with 110 gainers outpacing 124 decliners, suggesting mild profit-taking in mid-cap counters. Among key contributors to the day’s gains, HAYL.N led the way by adding 9.57 points to the ASPI, followed by GRAN.N, RICH.N, CARG.N, and BFL.N. On the other hand, HARI.N was the top negative contributor, dragging the index by 9.01 points, while LION.N, HNB.N, COMB.N, and JKH.N also exerted downward pressure.

Among notable trades, CBNK.N stood out with a turnover of LKR 194 million across more than 1,400 transactions, reflecting heightened retail participation and continued investor focus on the counter.