Market edges up on value buying as crossings surge

By Almas Equities Research

The Colombo Stock Exchange closed with marginal gains today, as both indices ended in positive territory amid steady market activity. Improved turnover and share volumes signaled a gradual pickup in participation, while increased crossing transactions pointed to renewed interest from value investors.

Despite the upward movement, overall sentiment remained moderately positive, with investors selectively accumulating counters rather than driving a broad-based rally. The session reflected a balanced tone, with cautious optimism supported by institutional activity.

The Capital Goods sector dominated market turnover, recording LKR 1.07 Bn with 43.15 Mn shares traded. JKH.N led the sector, generating LKR 0.61 Bn in turnover with 29.97 Mn shares traded, despite closing with a marginal price decline.

At the close, the ASPI gained 7.84 points (+0.03%) to settle at 22,620.15, while the S&P SL20 advanced by 15.12 points (+0.24%) to 6,229.68. Total market turnover stood at LKR 3.09 Bn, with share volume reaching 127.85 Mn shares.

Crossings accounted for LKR 0.93 Bn, representing a notable 30% of total turnover, with the largest crossing recorded in JKH.N amounting to LKR 0.49 Bn involving 24.11 Mn shares. Market breadth, however, weakened with 89 gainers against 124 decliners, indicating underlying selling pressure despite index gains.

On the positive side, COMB.N (+12.13 points) led index support, followed by JKH.N, ACL.N, DIAL.N, and CTC.N. On the downside, RICH.N (-8.05 points) was the largest drag, while DFCC.N, CFIN.N, GUAR.N, and PLC.N also weighed on overall performance.

Among notable trades, ACL.N recorded active participation with LKR 0.12 Bn in turnover and 1.24 Mn shares traded, posting a price gain of 2.09%, reflecting continued selective investor interest.