Colombo market opens week lower amid mixed investor sentiment

By Almas Equities Research

The Colombo stock market began the week on a subdued note on Monday (2nd February 2026), as key indices fell sharply during the session. The ASPI dropped as much as 190 points intraday but recovered slightly to close down 130.63 points (-0.55%) at 23,681.68. The S&P SL20 mirrored the decline, falling 43.95 points (-0.66%) to settle at 6,597.20. Market movements were largely driven by index-weighted counters, which saw broad-based declines despite strong turnover in select stocks.

Investor sentiment remains mixed, reflecting cautious positioning as market participants weigh valuations and upcoming corporate earnings. Total market turnover reached LKR 5.17 billion, with 153.64 million shares traded. Crossings accounted for LKR 0.61 billion, representing 11% of overall turnover, with the largest crossing recorded in CINS.N, which contributed LKR 0.36 billion through 100,000 shares traded.

The Capital Goods sector led market activity, recording LKR 2.07 billion in turnover supported by 27.18 million shares. DOCK.N emerged as the top contributor within the sector, generating LKR 1.47 billion in turnover with 10.19 million shares exchanged.

Market breadth remained weak, with 71 gainers against 151 decliners, highlighting continued selling pressure. KZOO.N led the positive contributors, followed by SEYB.N, CARG.N, ASIR.N, and WAPO.N. On the downside, CINS.N weighed heavily on the indices, alongside DOCK.N, MELS.N, COMB.N, and JKH.N.

Among notable trades, AFS.N recorded significant activity, posting a turnover of LKR 0.15 billion with 1.74 million shares traded, closing the session with a price gain of 15.82%.