Profit taking weighs on ASPI: JFP.N debuts with strong gains

By Almas Equities Research

The Colombo Stock Exchange remained subdued on Tuesday (19th November 2025), with the ASPI closing in negative territory for the fifth consecutive session, recording a modest decline of 21.80 points (-0.09%) to 23,029.86. The S&P SL20 also retreated, falling 14.96 points (-0.23%) to 6,361.58, as volatility persisted and overall market activity remained muted.

Investor sentiment continued to reflect profit-taking, contributing to a 3% pullback from the market’s all-time high. Despite this, selective buying was observed in fundamentally strong counters, maintaining underlying support amid the broader consolidation.

As of 19th November, 272 companies have released their quarterly earnings, reporting a combined LKR 175.91 Bn in net profits. This represents a 14.33% QoQ growth, although YoY earnings contracted by 22.63%, signaling normalization in corporate profitability following last year’s exceptional performance. Strong results from select counters continued to attract interest from investors focused on fundamentals.

The Materials sector led turnover for the day, contributing LKR 1.00 Bn. JFP.N made a remarkable debut, generating LKR 423.83 Mn in turnover with 27.42 Mn shares traded, closing with an impressive 30% price gain.

Total market turnover amounted to LKR 3.81 Bn, supported by 125.40 Mn shares changing hands. Crossings accounted for LKR 320 Mn (8% of total turnover), with the largest crossing recorded in CIC.N at LKR 83.25 Mn, involving 2.50 Mn shares.

Market breadth remained weak, with 87 gainers and 126 decliners, reflecting persistent consolidation pressure following the recent market highs.

Among the key movers, SFCL.N led the positive contributors, adding 14.70 points to the ASPI, followed by LION.N, JKH.N, HNB.N, and DIMO.N. On the downside, COMB.N weighed most heavily on the index, shedding 13.50 points, while DIAL.N, DOCK.N, DFCC.N, and NDB.N also contributed to the losses.