Market closes mixed after early rally

By Almas Equities Research

The Colombo Stock Exchange (CSE) concluded Monday’s session on a mixed note following an eventful day of trading. The market opened with strong positive momentum, with the All Share Price Index (ASPI) rallying to the 22,200 level, gaining as much as 135 points intraday, before easing into a sideways trajectory and closing modestly higher.

The ASPI gained 63.49 points (+0.29%) to close at 22,132.33, while the S&P SL20 edged down 3.74 points (-0.06%) to 6,037.79, reflecting selective profit-taking in large-cap counters.

Total market turnover amounted to LKR 3.70 billion, with 108.42 million shares traded. Activity was led by the Capital Goods sector, which recorded LKR 1.21 billion in turnover from 23.14 million shares. Within the sector, DOCK.R dominated trading, contributing LKR 0.89 billion in turnover with 13.47 million shares traded.

Crossings accounted for LKR 0.78 billion, representing 21% of total turnover. The largest crossing was recorded in DFCC.N, generating LKR 0.19 billion from 1.38 million shares.

Market breadth remained weak, with 113 decliners outweighing 91 gainers, indicating continued consolidation pressure despite the positive close. On the upside, DOCK.N led index contributions, adding 78.26 points, followed by HNB.N, RICH.N, DFCC.N, and CCS.N. On the downside, JKH.N was the largest drag, shedding 9.08 points, alongside BIL.N, RCL.N, ACL.N, and COMB.N.

Among notable trades, DOCK.N recorded heavy activity, generating LKR 585 million in turnover with 3.65 million shares traded, despite closing 30.61% lower, adding to intraday volatility.

Overall, the session reflected improving sentiment tempered by consolidation, as the market managed to retain gains after an early rally.