CSE continues positive momentum as Middle East tensions ease

By Almas Equities Research 

The Colombo Stock Exchange (CSE) closed on a strong positive note today, continuing the upward momentum observed yesterday following the ceasefire announcement between Iran and Israel. Both the All Share Price Index (ASPI) and the S&P SL20 Index recorded significant gains, reflecting improved investor sentiment. Market activity remained robust, as investors responded positively to the easing geopolitical tensions in the Middle East.

The ASPI inclined by 344.42 points, or 2.00%, to close at 17,535.62. Similarly, the S&P SL20 Index gained by 85.11 points, or 1.66%, ending the session at 5,219.01. Total market turnover amounted to LKR 5.91 billion, with 253.430 million shares traded. Market breadth reflected a positive negative sentiment, with only 173 gainers and 48 losers contributing to the overall movement of the ASPI.

Hayleys PLC (HAYL.N) emerged as the top contributor to the ASPI, adding 21.93 points, while First Capital Treasuries PLC (FCT.N) was the largest detractor, subtracting 9.93 points. The Capital Goods  sector led sectoral turnover with LKR 1.25 billion, accounting for nearly 22% of total market turnover.

Crossing transactions were involved today trading session, contributing approximately LKR 0.513 billion roughly 9% of the day’s turnover. The largest crossings were recorded in shares of LB Finance PLC (LFIN.N) totaling LKR 95.325 Mn with 775,000 shares traded.