CSE ends mixed as ASPI dips, but S&P SL20 holds slight gains

By Almas Equities Research

The Colombo Stock Exchange(CSE) saw mixed performance midweek, with the broader market under slight pressure while blue-chip counters showed marginal resilience. Investor activity remained measured, as sentiment stayed neutral ahead of upcoming earnings disclosures and key global macro triggers.

The All Share Price Index (ASPI) closed at 15,543.99, down 11.87 points or 0.08 percent, showing a gradual downward trend throughout the session. In contrast, the S&P SL20 Index edged up by 2.50 points or 0.05 percent to end at 4,592.07, supported by strength in selected large-cap stocks.

Turnover improved modestly to Rs 1.09 billion with 38.48 million shares traded, reflecting steady participation across selected sectors.

In terms of index contribution, John Keells Holdings PLC (JKH.N) and Hatton National Bank PLC (HNB.N) led the list of top positive contributors, followed by Bukit Darah PLC (BUKI.N), PGP Glass Ceylon PLC (GLAS.N), and National Development Bank PLC (NDB.N). However, the downside was dominated by Lion Brewery PLC (LION.N), Melstacorp PLC (MELS.N), Central Finance Company PLC (CFIN.N), Nations Trust Bank PLC (NTB.N), and DFCC Bank PLC (DFCC.N), which collectively weighed on the ASPI.

Market breadth was slightly negative with 76 gainers versus 89 decliners contributing to the All share price index, reflecting a cautious tone. Intraday trading showed volatility on both indices, with ASPI unable to reclaim early highs and SL20 finding late support.

Meanwhile, the World Bank's April 2025 update notes that Sri Lanka’s economy grew 5 percent in 2024, outperforming expectations, though growth is forecast to moderate to 3.5 percent in 2025 amid lingering post-crisis effects and global headwinds. The report underscores the need for continued reforms to sustain recovery and ensure inclusivity, as poverty remains elevated and labor market challenges persist.

As investors await a clearer earnings narrative and external market direction, the Colombo bourse is expected to remain in a consolidation phase, with sector-specific interest continuing to guide flows.