ASPI rebounds as market finds support

By Almas Equities Research

The Colombo Stock Exchange saw a mild recovery on Thursday (20th November 2025), as the market took a breather following a nearly 3% pullback from its all time high. The ASPI gained 75.10 points (+0.33%) to close at 23,104.96, while the S&P SL20 advanced 20.60 points (+0.32%) to 6,382.18. Volatility remained subdued throughout the session, though activity levels stayed muted with market turnover posting a modest LKR 3.49 Bn.

Earnings season continued to progress steadily, with 273 companies having released their quarterly results as of 20th November. The collective net profit stood at LKR 175.91 Bn, reflecting a healthy 14.33% QoQ increase. However, YoY earnings contracted by 22.63% as corporate profitability normalized from the exceptionally strong base recorded last year. Despite the annual decline, robust quarterly performance kept investor focus on fundamentally sound counters.

The Capital Goods sector dominated market activity, contributing LKR 844 Mn to total turnover. CIC.N remained in the spotlight, posting LKR 187 Mn in turnover with 5.6 Mn shares changing hands, making it the most actively traded counter of the day.

Total share volume reached 151.20 Mn shares. Crossings contributed LKR 637 Mn, accounting for 18% of total turnover. The largest negotiated trade was recorded in COMB.N, which generated LKR 198.07 Mn with 0.95 Mn shares traded.

Market breadth reflected a mixed sentiment, with 118 gainers against 92 decliners, signaling continued consolidation as the market seeks direction after recent gains.

Among the key positive contributors, SAMP.N led the upward momentum with a 16.13-point boost to the ASPI, followed by RICH.N, BUKI.N, JKH.N, and CARS.N. On the downside, MELS.N was the biggest drag, shedding 9.68 points, while BIL.N, SUN.N, CDB.N, and WATA.N also weighed on the index.

Notably, CIC.N also topped the board trades, recording LKR 138.94 Mn in turnover with 4.12 Mn shares exchanged, underscoring heightened investor interest in the counter.