Market slides amid early selling pressure, partial recovery fails to lift indices

By Almas Equities Research

The Colombo Stock Exchange witnessed a subdued and cautious trading session on 09th March 2026, as early selling pressure weighed heavily on market performance despite a modest recovery later in the day. The ASPI declined sharply during the first hour of trading, reflecting weak investor sentiment at the open. Although the market attempted a gradual rebound as the session progressed, regaining part of the early losses, it ultimately closed lower by 73.06 points, highlighting the absence of sustained buying momentum.

The session reflected a lack of strong conviction among investors, with sentiment remaining fragile following recent market volatility. The partial recovery observed during mid-session trading was insufficient to offset the initial downturn, as participants remained cautious and selective in their trading strategies.

The Capital Goods sector dominated today’s market turnover, recording LKR 0.88 Bn with 29.28 Mn shares traded. DOCK.N led sector activity, generating LKR 0.20 Bn in turnover with 1.44 Mn shares exchanged. Crossings accounted for LKR 0.29 Bn, representing 9.68% of total turnover, with the largest crossing recorded in JKH.N totaling LKR 0.11 Bn involving 5.47 Mn shares traded.

At the close, the ASPI declined by 73.06 points (-0.33%) to settle at 21,844.54, while the S&P SL20 fell by 14.32 points (-0.24%) to close at 6,076.18. Total market turnover stood at LKR 2.97 Bn with 133.35 Mn shares traded. Market breadth remained weak, with 54 gainers against 143 decliners, indicating continued selling pressure across the broader market.

Positive contributors to the index were led by NDB.N (+12.73 points), followed by NTB.N, JINS.N, CFLB.N, and LOLC.N. On the downside, DIAL.N (-11.35 points) led the decline, while JKH.N, MELS.N, CTHR.N, and HAYL.N also exerted pressure on the index. Among notable trades, HVA.N recorded significant activity, posting LKR 0.16 Bn in turnover with 18.55 Mn shares traded, alongside a price gain of 4.82%.