Market ends flat as cautious sentiment persists

By Almas Equities Research

The Colombo Stock Exchange traded within a narrow range and closed on a largely flat note, with both indices ending near their opening levels, reflecting a lack of clear market direction. Subdued turnover and lower share volumes highlighted weak investor conviction, as participants continued to adopt a wait-and-see approach amid ongoing geopolitical uncertainty.

Sentiment remained cautious throughout the week, with the Middle East conflict continuing to weigh on investor confidence. The absence of strong triggers kept activity muted, while selective buying and profit-taking resulted in a balanced but indecisive session.

The Food, Beverage & Tobacco sector led today’s market turnover, recording LKR 0.35 Bn with 21.13 Mn shares traded. HVA.N was the key contributor within the sector, generating LKR 0.12 Bn in turnover with 14.05 Mn shares traded, despite closing with a marginal decline.

At the close, the ASPI edged up 1.05 points (0.00%) to 22,567.63, while the S&P SL20 declined by 1.11 points (-0.02%) to 6,204.62. Total market turnover stood at LKR 2.06 Bn, with share volume at 120.27 Mn shares.

Crossings accounted for LKR 0.21 Bn, representing 10% of total turnover, with the largest crossing recorded in COMB.N amounting to LKR 0.10 Bn involving 0.50 Mn shares. Market breadth remained weak, with 89 gainers against 111 decliners, indicating continued subdued pressure across the market.

On the positive side, CTC.N (+9.68 points) led index support, followed by contributions from JKH.N, DIPD.N, HAYC.N, and DIAL.N. On the downside, CFIN.N (-4.92 points) was the largest drag, while PKME.N, RICH.N, BIL.N, and HNB.N also weighed on performance.

Among notable activity, LUMX.N recorded strong investor interest with LKR 0.13 Bn turnover and 11.98 Mn shares traded, posting a notable price gain of 21.05%.