CSE edges closer to 22,000 as banking sector leads turnover

By Almas Equities Research

The Colombo Stock Exchange (CSE) extended its upward momentum, edging closer to the 22,000 mark as renewed investor sentiment pushed the market to fresh highs. Investor focus remained on upcoming quarterly earnings releases and dividend announcements, driving strong inflows into equities.

Unlike recent sessions dominated by Food & Beverage counters, the Banking sector emerged as the top contributor, generating LKR 1.54 Bn (23% of total turnover).

The ASPI advanced 100.49 points (+0.46%) to 21,951.79, while the S&P SL20 gained 9.42 points (+0.15%) to 6,148.21, supported by a turnover of LKR 6.51 Bn on a share volume of 192.14 Mn shares.

Crossings accounted for LKR 1.42 Bn (21% of turnover), with COMB.N dominating both by turnover and volume.

Market breadth remained firmly positive, with 127 gainers outpacing 89 decliners. MELS.N was the biggest positive contributor (+32.69 points), followed by AEL.N, UBC.N, RCL.N, and NDB.N. On the downside, JKH.N (-9.01 points) weighed the most, alongside CFIN.N, DIPD.N, COMB.N, and RIL.N.

Among notable trades, COMB.N was the day’s most active counter, posting LKR 892 Mn in turnover. However, despite strong activity, the counter closed slightly lower, dipping 0.26%.