Market ends mixed as investors await earnings clarity

By Almas Equities Research

The Colombo Stock Exchange closed the session on a mixed note, with the ASPI edging lower while the S&P SL20 posted marginal gains, highlighting the lack of a clear market direction. Trading remained largely range-bound throughout the day, as investors adopted a cautious stance following the indices’ recent all-time highs and ahead of upcoming quarterly earnings announcements.

The All Share Price Index (ASPI) slipped 4.13 points (-0.02%) to close at 23,623.74, while the S&P SL20 ended the session higher by 5.45 points (+0.08%) at 6,544.80. Market activity remained healthy, with total turnover reaching LKR 5.16 billion, supported by a share volume of 134.50 million shares.

Turnover was primarily driven by the Capital Goods sector, which accounted for LKR 2.53 billion from 33.65 million shares traded. Within the sector, DOCK.N emerged as the most active counter, generating LKR 1.28 billion in turnover with 12.04 million shares exchanged. Crossings contributed LKR 0.79 billion, representing 15% of total market turnover, with RHL.X recording the largest block trade, amounting to LKR 0.32 billion on 8.0 million shares.

Market breadth remained tilted toward the downside, as decliners continued to outnumber gainers, reflecting subdued investor sentiment amid ongoing consolidation. On the positive side, HAYL.N made the strongest contribution to the index, adding 16.76 points, supported by gains in DOCK.N, ACL.N, COMB.N, and NTB.N. Conversely, SFCL.N exerted the largest drag on the market, shedding 35.23 points, while JKH.N, BUKI.N, CTHR.N, and DFCC.N also weighed on index performance.

Among notable trades, DOCK.N stood out with significant activity, recording a 5.54% price gain alongside strong turnover, underscoring selective buying interest despite the broader market’s sideways movement.

Overall, the session reflected a wait-and-see approach, as investors reassess valuations and position cautiously ahead of forthcoming earnings releases that are expected to provide clearer direction for the market.