CSE rebounds strongly amid elevated turnover

By Almas Equities Research 

The Colombo Stock Exchange (CSE) witnessed an eventful session today, marked by sharp intraday swings and robust investor activity. Within the first half hour, the market fell 178 points but quickly reversed course, rallying 352 points to close firmly in positive territory. Volatility remained elevated throughout the session, with turnover surpassing LKR 11.87 billion on a share volume of 324.84 million.

The ASPI gained 95.23 points, or 0.46%, to close at 20,769.34, while the S&P SL20 Index advanced 34.58 points, or 0.59%, to 5,929.71.

Crossings accounted for LKR 1.51 billion, representing 12% of total turnover. The largest negotiated transaction by value was in CDB.N, generating LKR 705 million, while JKH.N recorded the highest crossing volume with 5.00 million shares traded.

Sector-wise, Food & Staples Retailing dominated activity, contributing 39% of market turnover, led by CTHR.N, which alone generated LKR 3.60 billion.

Market breadth reflected strong sentiment, with 148 gainers outpacing 74 decliners.

Top Contributors to the ASPI:

Positive: HNB.N led the gainers, adding 23.76 index points, followed by NDB.N, NHL.N, BIL.N, and DFCC.N.

Negative: CTHR.N was the largest drag, pulling the index down by 19.52 points, while SAMP.N, MELS.N, CCS.N, and AEL.N also weighed on the index.

Among notable trades, CTHR.N stood out with transactions amounting to LKR 3.60 billion, primarily from board trades, making it the most actively traded counter of the session.