CSE Shows Strong Recovery with ASPI Up 425 Points

By Almas Equities Research 

The Colombo Stock Exchange (CSE) closed on a strong positive note today, with both the All Share Price Index (ASPI) and the S&P SL20 Index recording significant gains. The upward momentum was driven by improved global investor sentiment following the announcement of a ceasefire between Iran and Israel, which had been engaged in nearly two weeks of conflict. Global equity markets rallied in response to the easing geopolitical tensions, while crude oil prices experienced a sharp decline. Brent crude oil, the international benchmark, fell by nearly 5% on Tuesday to $68 per barrel. 

The All Share Price Index (ASPI) inclined by 425.80 points, or 2.54%, to close at 17,191.20. Similarly, the S&P SL20 Index gained by 142.72 points, or 2.86%, ending the session at 5,133.90. Total market turnover amounted to LKR 5.21 billion, with 235.005 million shares traded. Market breadth reflected a positive  sentiment, with only 209 gainers and 19 losers contributing to the overall movement of the ASPI.

Commercial Bank of Ceylon PLC (COMB.N) emerged as the top contributor to the ASPI, adding 29.43 points, while Ceylinco Holdings PLC (CINS.N) was the largest detractor, subtracting 4.18 points. The Banks sector led sectoral turnover with LKR 1.156 billion, accounting for nearly 22% of total market turnover.

Crossing transactions were involved today trading session, contributing approximately LKR 0.308 billion roughly 6% of the day’s turnover. The largest crossings were recorded in shares of Commercial Bank of Ceylon PLC (COMB.N) totaling LKR 121.175 Mn with 0.785 Mn shares traded.