ASPI soars past 23,500 on budget optimism and earnings strength

By Almas Equities Research

The Colombo Stock Exchange (CSE) commenced the week on a strong positive note, with the All-Share Price Index (ASPI) surging over 160 points, a clear shift toward fundamentally strong counters, signaling confidence in continued market growth in the coming sessions.

The ASPI advanced 164.34 points (+0.70%) to close at 23,502.59, while the S&P SL20 gained 118.57 points (+1.86%) to end at 6,500.04. Market turnover stood at LKR 7.51 billion, with 252.96 million shares changing hands.

The Capital Goods sector once again dominated market activity, contributing LKR 1.90 billion (25% of total turnover). ACL.N led the sector with LKR 339 million in trades, underscoring robust institutional participation and sustained investor confidence in the counter.

Crossings accounted for LKR 835 million (11% of total turnover). The largest crossing by turnover was recorded in ACL.N, generating LKR 253 million, while REEF.N recorded the highest crossing by volume, trading 7.0 million shares.

Market breadth reflected mixed sentiment, with 112 gainers and 117 decliners, indicating mild consolidation following recent upward momentum.

Top positive contributors included HNB.N (+47.93 points), SAMP.N, COMB.N, NDB.N, and DIAL.N, while SFCL.N (-52.87 points) led the negative contributors, followed by DOCK.N, SUN.N, WIND.N, and DIPD.N.

Among notable trades, RAL.N stood out with a turnover of LKR 303 million and 45.72 million shares traded, highlighting heightened retail participation and short-term speculative interest in the counter.