Market starts the week on a weak note amid profit-taking and high volatility

The Colombo Stock Exchange opened the week on a negative footing on Monday (17th November 2025), as both benchmark indices declined sharply, weighed down by profit-taking following the conclusion of the earnings season and heightened intraday volatility.

The ASPI fell 236.07 points (-1.00%) to close at 23,223.68, after plunging 109 points within the first hour of trading. Although the index recovered most of the losses by midday, selling pressure resurfaced during the second half of the session. The S&P SL20 also declined, shedding 25.93 points (-0.34%) to close at 6,409.99.

As of Monday, 264 companies have released their quarterly results, reporting a combined LKR 162.27 Bn in net earnings. This reflects a 7.15% improvement QoQ, though YoY profits dipped 19.39%, indicating a normalization in corporate performance following last year’s strong base. Despite the YoY slowdown, resilient earnings have continued to support selective investor interest.

Market activity was driven predominantly by the Banking and Capital Goods sectors, which posted nearly equal turnover contributions of LKR 0.86 Bn and LKR 0.85 Bn, respectively. LGL.N emerged as the top contributor for the day, generating LKR 278.16 Mn in turnover with 3.78 Mn shares changing hands.

Total market turnover stood at LKR 4.45 Bn, with 138.72 Mn shares traded. Crossings accounted for LKR 583 Mn (13% of turnover), led by a major block trade in CTC.N worth LKR 216 Mn.

Market breadth remained firmly negative, with 66 gainers against 151 decliners, reflecting ongoing consolidation pressure after recent market highs.

RICH.N was the top positive contributor, adding 17.12 points to the ASPI, supported by improved investor sentiment toward diversified financial counters. Other positive contributors included ABL.N, SDB.N, HHL.N, and DOCK.N.

On the downside, CINS.N dragged the index by 77.84 points, leading the day’s negative contributors. SFCL.N, BUKI.N, COMB.N, and SAMP.N also weighed on overall market performance.

Among the day’s notable trades, ABL.N recorded LKR 169 Mn in turnover with 5.3 Mn shares traded, driven by heightened retail participation and strong speculative interest. The counter closed with a 9.09% gain, marking one of the session’s standout performances.