Market dips on weak sentiment

By Almas Equities Research

The Colombo Stock Exchange commenced the week on a negative note on 30th March 2026, with the ASPI declining by 283 points amid heightened volatility. The index fell sharply by 337 points within the first hour of trading, driven by negative sentiment carried over from the weekend. Although some buying interest emerged during the session—recovering nearly one-third of the losses—the market failed to sustain momentum and trended downward again towards the close.

The downturn was largely attributed to deteriorating investor sentiment, influenced by escalating geopolitical tensions in the Middle East and the announcement of a significant electricity tariff hike. Coupled with ongoing global uncertainty and the absence of clear developments on geopolitical risks, investors maintained a cautious, wait-and-see approach, resulting in subdued market participation.

The Capital Goods sector led market turnover, recording LKR 0.60 Bn with 24.21 Mn shares traded. JKH.N was the primary contributor within the sector, generating LKR 0.34 Bn in turnover with 19.15 Mn shares traded. Crossings remained limited, accounting for LKR 0.14 Bn (6% of total turnover), with the largest crossing recorded in SAMP.N totaling LKR 0.95 Bn involving 0.61 Mn shares traded.

At the close, the ASPI declined by 283.49 points (-1.33%) to settle at 21,092.24, while the S&P SL20 fell by 91.03 points (-1.52%) to 5,908.96. Total market turnover stood at LKR 2.17 Bn, with 100.35 Mn shares traded. Market breadth weakened further, with 47 gainers against 118 decliners, reflecting continued selling pressure across the broader market.

Positive contributors were led by CARG.N (+10.94 points), followed by BIL.N, LOLC.N, ABL.N, and PINS.N. On the downside, JKH.N (-21.43 points) led the decline, while NDB.N, HAYL.N, MELS.N, and COMB.N also weighed on the index. Among notable trades, BIL.N recorded a turnover of LKR 0.12 Bn with 19.70 Mn shares traded, alongside a price gain of 7.02%.