CSE closes the short trading week with modest decline

By Almas Equities Research

The Colombo Stock Exchange (CSE) concluded the shortest trading week on a modestly negative note. The All Share Price Index (ASPI) declined by 9.31 points, closing at 15,616.57 a marginal drop of 0.06 percent. Similarly, the S&P SL20 Index fell by 0.44 percent to close at 4,624.24.

Today’s session saw a rollercoaster of movements. The market opened strong, gaining over 35 points in the first half-hour with turnover exceeding Rs 100 million, reaching an intraday high of 15,668.96. However, this momentum reversed sharply with a 101 points dip to the day’s low, before recovering to close at 15,616.57.

Trading activity remained relatively subdued as investors appeared to be in a holiday mood. A single crossing was recorded during the session where Alumex PLC (ALUM.N) accounted for Rs. 20.54 million in turnover, with a share volume of 1.30 million. Retail investors dominated the market, with a focus on profit-taking and position averaging. 

Notably, the government’s announcement of VAT exemptions on locally produced milk products had a positive impact on sentiment, driving attention toward the Food & Beverage sector. This sector led the market in turnover, contributing Rs 181.76 million.

The highest individual turnover came from Sampath Bank PLC (SAMP.N), which generated Rs. 82.72 million, despite recording a slight price decline of 0.22 percent. Cargills (Ceylon) PLC (CARG.N) emerged as the top positive contributor to the ASPI, adding 10.13 points. In contrast, Sampath Bank PLC (SAMP.N) was the top negative contributor, pulling the index down by 8.40 points.

While the overall market posted a modest decline, activity remained subdued with lower volumes and turnover amid the festive season. However, the upcoming week is expected to be more active, as the holiday period comes to an end and the market prepares for a fresh start with renewed investor interest.