CSE closes higher following early dip triggered by U.S. Reciprocal tariff concerns

By Almas Equities Research 

The Colombo Stock Exchange (CSE) closed the trading day on a positive note. The market initially experienced significant selling pressure during the early hours of the session, with the All Share Price Index (ASPI) declining by nearly 150 points. However, investor sentiment recovered later in the day as buying interest emerged, allowing the market to end in positive territory. The initial volatility was largely driven by concerns following U.S. President Donald Trump's announcement that he is likely to issue letters starting Friday (Washington time), outlining the imposition of reciprocal import tariffs.

The ASPI inclined by 47.42 points, or 0.26%, to close at 18,148.34. Similarly, the S&P SL20 Index inclined by 18.63 points, or 0.35%, ending the session at 5,366.03. Total market turnover amounted to LKR 6.76 billion, with 156.15 million shares traded. Market breadth reflected a positive sentiment, with 84 gainers and 124 losers contributing to the overall movement of the ASPI.

John Keells Holdings (JKH.N) emerged as the top contributor to the ASPI, adding 12.11 points, while LOLC Holdings  PLC (LOLC.N) was the largest detractor, subtracting 5.75 points. The Food and Staples Retailing Sector led sectoral turnover with LKR 2.14 billion, accounting for nearly 32% of total market turnover.

Crossing transactions were significantly involved today trading session, contributing approximately LKR 2.99 billion roughly 45% of the day’s turnover. The largest crossings were recorded in shares of Cargills (Ceylon) PLC and C T Holdings with a turnover of LKR 1.06 billion and 1.07 billion respectively with 1.9 million shares traded each.