Colombo stock market pauses near 23,000 level amid volatile trading

By Almas Equities Research

The Colombo Stock Exchange (CSE) witnessed an eventful trading session today, characterized by heightened volatility and shifting investor sentiment. The All Share Price Index (ASPI) surged 124 points within the first half hour, briefly breaking past the 22,900 level. However, as the index approached the 23,000 historical milestone, profit-taking set in, causing the market to pare early gains and fluctuate within the 22,780–22,900 range.

The Capital Goods sector led activity during the session, emerging as the top performer with a turnover of LKR 1.50 billion, accounting for 22% of total market activity. ACL.N dominated the sector, contributing LKR 386 million through active trading, reflecting strong investor focus on capital goods counters.

By market close, the ASPI edged up 7.45 points or 0.03% to settle at 22,791.07, while the S&P SL20 slipped 7.21 points or 0.11% to close at 6,276.86. Total market turnover stood at LKR 6.61 billion, with 217.12 million shares traded. Crossings contributed LKR 886.07 million, representing 13% of total turnover. The largest crossing by turnover was recorded in SHAW.N at LKR 223.38 million, while SEYB.N accounted for the highest crossing by volume with 1.24 million shares traded.

Market breadth reflected mild profit-taking, with 98 gainers and 132 decliners, suggesting selective sectoral strength. Among key positive contributors, DOCK.N led gains by adding 9.57 points to the ASPI, followed by SAMP.N, CFIN.N, HARI.N, and HUNT.N. On the downside, JKH.N led the drag, losing 9.01 points, while COMB.N, VLL.N, AEL.N, and WIND.N also weighed on the indices.

Among notable trades, CIC.N stood out with a turnover of LKR 205 million across more than 1,800 transactions, indicating heightened retail participation and strong trading interest in the counter.

Overall, the market showcased resilience despite profit-taking pressure, with investors eyeing the 23,000 level as the next key resistance point in the ongoing upward trajectory.