CSE ends mixed after technical delay curtails trading session

By Almas Equities Research

The Colombo Stock Exchange concluded Thursday’s session on a mixed note after a delayed market opening shortened trading hours due to a technical issue in the CSE trading system. Despite the late start, the market showed early strength, with the All Share Price Index (ASPI) gaining more than 65 points during the initial phase of trading. However, profit-taking in selected counters gradually eroded most of the gains, resulting in a marginal decline in the ASPI by the close, while the S&P SL20 Index managed to finish slightly higher.

The shortened trading session was accompanied by lower turnover and share volume levels, reflecting subdued investor participation. Although market breadth remained positive, overall trading activity was muted as investors continued to adopt a cautious approach amid the absence of strong market catalysts.

The ASPI slipped by 19.58 points, or 0.09%, to close at 22,243.70, while the S&P SL20 edged up 1.46 points, or 0.02%, to settle at 6,206.51. Market turnover stood at LKR 1.07 Bn, with 35.22 Mn shares traded, underscoring the limited activity during the abbreviated session.

The Telecommunication Services sector emerged as the largest contributor to market turnover, generating LKR 0.24 Bn with 5.43 Mn shares traded. DIAL.N accounted for the sector's entire turnover, recording LKR 0.24 Bn with 5.43 Mn shares changing hands. Crossing transactions amounted to LKR 0.15 Bn, representing 14% of total market turnover, with the largest crossing recorded in WIND.N amounting to LKR 0.10 Bn involving 2.50 Mn shares.

Market breadth was marginally positive, with 101 gainers outpacing 88 decliners, indicating a slight improvement in buying interest despite subdued trading conditions. MELS.N emerged as the largest positive contributor to the ASPI, adding 8.13 points, followed by JKH.N, DFCC.N, CTC.N and PLC.N. On the downside, HNB.N exerted the biggest drag on the benchmark index, shaving off 10.58 points, while RIL.N, DIAL.N, SAMP.N and CARG.N also weighed on market performance.

Among the day's notable trades, HASU.N recorded a turnover of LKR 0.04 Bn with 0.27 Mn shares traded. Despite the trading interest, the counter declined by 3.78%, reflecting the profit-taking sentiment observed in selected counters during the session. Overall, the market remained resilient following the delayed opening, but subdued participation suggested that investors continue to await stronger catalysts before taking larger positions.