CSE records 7th highest turnover despite market decline

By Almas Equities Research 

The Colombo Stock Exchange (CSE) witnessed heightened activity today, initially gaining nearly 80 points during the first hour of trading. However, the momentum reversed as the session progressed, with the market experiencing a steady decline to close the day down by 61.31 points on the All Share Price Index (ASPI), settling at 18,884.96. The S&P SL20 Index also dipped by 32.42 points to close at 5,668.12.

Despite the downward trend in indices, the market recorded the 7th highest single-day turnover in CSE history, reaching LKR 17.01 billion, underscoring strong investor participation. A major portion of this turnover was driven by crossing transactions, which accounted for approximately 70% of total turnover. The standout contributor was HNB.X, which alone generated LKR 11.02 billion, signaling significant institutional interest.

Investor activity remained broad-based with 103 companies recording gains, while 116 ended in the red. Notable among the gainers was SAMP.N, which saw a turnover of LKR 326.58 million from 2.33 million shares. COOP.N, SFCL.N, AHPL.N, and CDB.N also supported market sentiment with strong performances. Meanwhile, MDL.N saw the largest price appreciation, surging 33.71%.

On the flip side, JKH.N led the declines with a turnover of LKR 537.43 million from 20.91 million shares, followed by HAYL.N, CFIN.N, MELS.N, and RCL.N, all of which contributed to the market’s downward movement. 

The market displayed mixed market sentiment today, as investors engaged in profit-taking following four consecutive positive trading sessions, during which the ASPI had gained 914 points. This resulted in a noticeable cooling-off in today's trading activity.