CSE shows gains despite uncertainty over US tariff announcement

The Colombo Stock Exchange continued its upward momentum on Wednesday, with the benchmark All Share Price Index (ASPI) gaining 129.37 points (+0.72%) to close at 18,161.49, supported by strong retail participation and positive sentiment across key counters.

The S&P SL20 also rose 36.89 points (+0.69%) to finish at 5,358.64. Turnover for the day reached a healthy LKR 5.98 billion, with 176.61 million shares changing hands, reflecting sustained market interest despite uncertainties related to the upcoming reciprocal tariff announcement by the United States.

The highest sector turnover was recorded in Diversified Financials, totaling LKR 1.28 billion and accounting for 21.5% of the overall market turnover. Crossing transactions also played a significant role, with 0.595 million shares exchanged off-market, contributing nearly 10% of the total turnover. A total of 125 companies contributed positively to the ASPI, led by blue-chip John Keells Holdings PLC (JKH.N), which generated LKR 89.91 million in turnover through 3.84 million shares traded. Other notable contributors included HNB.N, CFIN.N, RIL.N, and MELS.N, while losses were driven by Lion Brewery (LION.N) and counters such as SPEN.N, VONE.N, LOLC.N, and RICH.N.

Noteworthy price movements included UML.N, which surged 24.01%, demonstrating strong investor appetite in select small and mid-cap stocks. Significant crossings were recorded in CIC.N, contributing LKR 98 million to turnover, with RIL.N leading crossing volumes at 2 million shares. Despite global headwinds, the market’s resilience, fueled by domestic retail and selective institutional interest which continues to support positive momentum in the near term.