Equities close in the green on narrow gains

By Almas Equities Research

The Colombo stock market closed today’s session with marginal gains, as both indices moved sideways within a narrow 80-point intraday range, reflecting mild volatility and a lack of clear directional momentum. Overall turnover and volume remained below average levels, while the absence of notable block trades signaled a cautious, wait-and-see stance among value investors amid the ongoing December quarter earnings season.

Corporate earnings continued to provide a broader market backdrop. As of 11th February, a total of 120 listed companies have released their December quarter financial results, reporting cumulative earnings of LKR 64.27 Bn, representing a modest year-on-year growth of 5.51%.

Market activity was led by the Capital Goods sector, which recorded a turnover of LKR 0.66 Bn with 14.37 Mn shares traded. Within the sector, SIRA.N emerged as the leading contributor, generating LKR 0.15 Bn in turnover supported by 4.10 Mn shares traded.

At the close, the ASPI gained 4.59 points, or 0.02%, to settle at 23,655.68, while the S&P SL20 advanced by 6.11 points, or 0.09%, to close at 6,611.52. Total market turnover stood at LKR 3.35 Bn, with a share volume of 170.88 Mn shares traded during the session.

Crossings accounted for LKR 0.39 Bn, representing 11% of total turnover, with the largest crossing recorded in SIL.N amounting to LKR 0.13 Bn involving 0.35 Mn shares.

Market breadth remained weak, with 98 gainers and 125 decliners, indicating continued subdued pressure across the broader market.

Among index movers, NHL.N contributed positively to the ASPI, gaining 9.2 points, followed by CFIN.N, CARG.N, JKH.N, and LLUB.N. On the downside, RICH.N led the decline, shedding 8.21 points, while MELS.N, BUKI.N, NTB.N, and CTC.N also weighed on overall index performance.

In notable trading activity, SIL.N recorded strong investor interest, posting a turnover of LKR 0.21 Bn with 0.55 Mn shares traded, alongside a sharp price gain of 24.95%.