ASPI edges higher as profit-taking keeps market range-bound

By Almas Equities Research

The Colombo stock market closed on a mixed note today, with the All Share Price Index (ASPI) ending marginally higher, while the S&P SL20 edged slightly lower. Overall sentiment remained subdued, as profit-taking continued to dominate trading activity, keeping the market in a consolidation phase near all-time high levels without a clear directional trend.

Investors appeared cautious as the quarterly earnings season progresses, with a clearer market direction expected once results are fully absorbed. Portfolio rotation toward value-driven counters with stronger earnings visibility and attractive valuations was evident, supported by both retail participation and high-net-worth investor activity.

Market turnover was led by the Capital Goods sector, which recorded LKR 1.91 billion in turnover, supported by 64.90 million shares traded. JKH.N emerged as the top contributor within the sector, generating LKR 0.79 billion in turnover with 34.20 million shares traded.

At the close, the ASPI gained 31.95 points (+0.13%) to settle at 23,992.11, while the S&P SL20 declined by 2.16 points (-0.13%) to close at 6,672.37. Total market turnover stood at LKR 6.94 billion, with share volume reaching 347.13 million shares.

Crossings accounted for LKR 0.73 billion, representing 10% of total turnover. The largest crossing was recorded in PLR.N, with a turnover of LKR 0.32 billion involving 7.43 million shares traded.

Market breadth remained weak, with 86 gainers and 140 decliners, reflecting subdued sentiment across the broader market.

On the index, CINS.N contributed positively with a gain of 21.84 points, followed by SFCL.N, JKH.N, CTHR.N, and COOP.N. Meanwhile, NDB.N led the decline, dragging the index by 6.13 points, alongside DOCK.N, SAMP.N, SUN.N, and HNB.N.

Among notable trades, EML.N recorded active participation, posting a turnover of LKR 0.15 billion with 12.98 million shares traded, while gaining 16.67% during the session.

Overall, the market continues to trade within a narrow range, as investors remain focused on upcoming earnings releases to determine the next catalyst for direction.