Capital goods sector dominates turnover as market consolidates

By Almas Equities Research

Colombo, February 19 (Daily Mirror) - The Colombo Stock Exchange ended the session on a negative note, with both the ASPI and S&P SL20 retreating after hitting intraday highs above the 24,000 level.

Turnover and share volumes were lower compared to the previous session, reflecting a slowdown in trading activity and limited participation in block trades. The market continues to range near the 24,000 mark, signaling a consolidation phase.

The Capital Goods sector dominated market activity, recording a turnover of LKR 1.02 Bn on 23.18 million shares traded. JKH.N led the sector, generating LKR 0.30 Bn in turnover with 13.27 million shares exchanged. Crossings accounted for LKR 0.49 Bn, or 8% of total turnover, with HAYL.N recording the largest crossing of LKR 0.12 Bn on 0.50 million shares traded.

Today’s Closing Statistics saw the ASPI fall by 49.77 points (-0.21%) to 23,870.07, while the S&P SL20 declined 7.31 points (-0.11%) to 6,743.19. Overall market turnover totaled LKR 4.93 Bn, with 276.91 million shares changing hands.

Market breadth weakened further, with 77 gainers against 145 decliners, reflecting selective selling pressure. Positive contributors included JKH.N (+9.08 points), CFIN.N, MELS.N, BUKI.N, and PAP.N, while SAMP.N (-12.64 points) led the decline, alongside DOCK.N, DIAL.N, DFCC.N, and COMB.N. Among notable trades, KPHL.N recorded strong activity, posting a turnover of LKR 0.09 Bn with 3.92 million shares traded, marking a price gain of 18.35%.

The session highlights cautious investor sentiment as the market consolidates near all-time highs, with activity concentrated in selective blue-chip counters and sector-specific movements.