CSE declines amid profit-taking pressure

By Almas Equities Research

The Colombo Stock Exchange (CSE) concluded today's trading session on a negative note, with the All Share Price Index (ASPI) closing just below the 15,800 level.

Following four consecutive days of gains, the market experienced a slight decline today, although a modest level of investor interest remained evident.

Opening on a negative footing, the ASPI maintained momentum throughout the session, ultimately closing at 15,799.94, down by 67.40 points (0.42 percent). The S&P SL20 Index also posted declines, dragging by 27.60 points (0.59 percent) to settle at 4,643.66.

Total market turnover amounted to Rs.2.37 billion, with 124.79 million shares traded. While overall turnover was moderate and greater than last trading session, trading activity was focused and strategic. Market breadth was notably negative, with 76 gainers outweighing 125 losers, reflecting a profit taking moment to navigate the index to decline. 

Melstacorp (MELS.N) emerged as the top positive contributor to the ASPI, adding 16.06 points, while  Hatton National Bank (HNB.N) was the largest drag, contributing negative 8.88 points. The Food, Beverage and Tobacco  sector led in terms of turnover contribution.

Crossing transactions contributed significantly to overall market turnover, totaling Rs.602.45 million—approximately 25 percent of the day’s total. The largest crossing was recorded in Printcare PLC (CARE.N), with 2.45 million shares traded for a total value of Rs.151.87 million. A notable crossing was also observed in Lanka IOC PLC (LIOC.N), amounting to LKR 129 million from a volume of 1 million shares.

The European Union has conveyed a positive stance on Sri Lanka’s ongoing GSP+ review, as noted by Charles Whiteley, Head of the South Asia Division at the European External Action Service, during a meeting with President Anura Kumara Dissanayake. Meanwhile, Sri Lanka’s inflation rate, as measured by the Colombo Consumer Price Index (CCPI), edged up slightly to -2.0 percent in April 2025 from -2.6 percent in March, according to the Department of Census and Statistics. These developments reinforce a more optimistic economic outlook, presenting increased opportunities for investors.