Market edges higher in sideways trade

By Almas Equities Research

The Colombo Stock Exchange (CSE) extended its modest recovery for a second consecutive session, with both key indices closing slightly higher. Despite the positive close, trading activity remained largely range-bound, with the market lacking a clear directional bias amid the absence of supportive macroeconomic cues.

The All Share Price Index (ASPI) gained 32.05 points (+0.15%) to close at 21,959.05, while the S&P SL20 edged up 4.17 points (+0.07%) to 6,015.48.

Total market turnover increased to LKR 4.10 billion, supported by higher volumes, with 147.19 million shares traded. Activity was heavily concentrated in the Capital Goods sector, which accounted for LKR 2.18 billion in turnover from 86.39 million shares. Within the sector, JKH.N dominated trading, contributing LKR 1.67 billion in turnover with 79.50 million shares traded.

Crossings played a significant role, accounting for LKR 1.77 billion, or 43% of total market turnover. The largest crossing was recorded in JKH.N, generating LKR 1.39 billion with 66 million shares traded.

Market breadth remained mixed, with 102 gainers against 90 decliners, reflecting subdued market pressure despite the marginal index gains. On the upside, SFCL.N led positive contributions, adding 13.28 points, followed by SPEN.N, SAMP.N, BUKI.N, and CARG.N. Conversely, MELS.N was the largest drag on the index, shedding 7.32 points, alongside WIND.N, CALT.N, DFCC.N, and JINS.N.

Among notable trades, DOCK.R recorded active trading, generating LKR 316 million in turnover with 5.6 million shares traded, while closing 2.04% lower, adding to intraday volatility.

Overall, the session reflected cautious accumulation rather than a decisive trend, as investors remained selective amid lingering macro uncertainty.