Market ends mixed amid volatility and index rebalancing pressure

By Almas Equities Research

The Colombo Stock Exchange experienced a highly volatile session on 31st March 2026, with the market oscillating between gains and losses throughout the day. Early optimism was supported by positive global cues following updates from the U.S. President regarding developments in the ongoing geopolitical situation, which initially lifted investor sentiment and pushed the market into positive territory.

However, the momentum proved short-lived as SAMP.N’s ex-dividend trading triggered significant selling pressure, weighing on the ASPI and reversing early gains. The market subsequently remained choppy for the rest of the session, with no clear directional trend emerging as investors balanced global optimism against local technical and stock-specific pressures.

Turnover activity was largely concentrated in the Capital Goods sector, which recorded LKR 1.86 Bn with 88.13 Mn shares traded. JKH.N was the dominant contributor, generating LKR 1.49 Bn in turnover with 83.01 Mn shares traded. Crossings accounted for LKR 1.20 Bn (34% of total turnover), with the largest crossing recorded in JKH.N amounting to LKR 0.81 Bn involving 45.29 Mn shares traded.

At the close, the ASPI edged down by 26.06 points (-0.12%) to 21,066.18, while the S&P SL20 declined by 4.86 points (-0.08%) to 5,904.10. Total market turnover stood at LKR 3.51 Bn, with 165.15 Mn shares traded. Market breadth remained slightly negative, with 90 gainers against 109 decliners, reflecting a cautious undertone across the market.

Positive contributors were led by JKH.N (+21.43 points), followed by HNB.N, DFCC.N, CTHR.N, and CARS.N. On the downside, SAMP.N (-75.43 points) was the primary drag on the index, while HAYL.N, ACL.N, GLAS.N, and VONE.N also exerted pressure. Among notable trades, JKH.N recorded strong activity with LKR 1.49 Bn turnover and 83.01 Mn shares traded, posting a price gain of 2.22%.