Colombo market ends slightly lower as profit-taking weighs on indices

By Almas Equities Research

The Colombo equity market closed slightly lower today, failing to maintain the upward momentum seen in the previous session. Both turnover and share volumes declined, reflecting a more cautious investor stance. Market sentiment remained mixed, with indices continuing to move within a narrow range close to their all-time high levels.

The Capital Goods sector led market activity, generating a turnover of LKR 0.95 billion with 20.52 million shares traded. AEL emerged as the top contributor within the sector, recording LKR 0.17 billion in turnover backed by 2.36 million shares.

At the close, the ASPI declined by 17.29 points (-0.07%) to settle at 23,882.82, while the S&P SL20 edged down by 1.62 points (-0.02%) to close at 6,708.71. Total market turnover stood at LKR 4.23 billion, with overall share volume reaching 160.83 million shares.

Crossing transactions accounted for LKR 0.37 billion, representing 9% of total turnover. The largest crossing was recorded in VONE, amounting to LKR 0.13 billion with 1.29 million shares traded.

Market breadth remained weak, with 105 gainers compared to 124 decliners, indicating continued selling pressure across the broader market despite selective buying interest.

In terms of index contributors, AEL led the positive side, followed by PLR, LMF, MELS, and CARS. On the downside, CTHR weighed most on the index, with additional pressure from PABC, DIMO, DFCC, and RICH.

Among notable counters, AEL recorded active participation during the session, posting LKR 0.11 billion in turnover with 1.56 million shares traded, alongside a price gain of 3.46%.

Overall, the market maintained a cautious tone, with investors continuing to monitor earnings releases and near-term market direction.