CSE ends volatile session in red amid heavy banking sector activity

By Almas Equities Research

The Colombo Stock Exchange (CSE) closed lower on Friday after a volatile session that saw sharp intraday swings. The benchmark ASPI shed 29.43 points (-0.14%) to close at 20,612.40, while the S&P SL20 slipped 13.04 points (-0.22%) to 5,873.12, as mixed investor sentiment led to profit-taking and portfolio rebalancing.

The market opened on a weak footing, falling 101 points before staging an impressive rebound of 150 points. However, momentum faded towards the latter part of trading, leaving the index in negative territory at the close. Intraday volatility was elevated, with the session recording a trading range of over 150 points.

Turnover stood at LKR 5.84 Bn, supported by crossings worth LKR 1.70 Bn (29% of total turnover). The most notable crossing was in LLUB.N, which generated LKR 1.02 Bn from 6.0 Mn shares, emerging as the single largest transaction by both turnover and volume.

The Banking sector remained the dominant driver of market activity, contributing 32% of total turnover. SDB.N was the standout counter, generating LKR 599 Mn in turnover.

Market breadth leaned negative with 116 decliners outweighing 105 gainers.

Top contributors to the ASPI:

Top positive contributors: DFCC.N (+9.31 index points), NTB.N, LLUB.N, CARG.N, and WATA.N.

Top negative contributors: COMB.N (-17.06 index points), MELS.N, BIL.N, SAMP.N, and BUKI.N.

Among actively traded counters, LLUB.N recorded LKR 1.08 Bn in turnover, of which 94% stemmed from negotiated off-the-floor deals.