Market surges as ASPI nears 24,000 mark

By Almas Equities Research

The Colombo Stock Exchange closed on a strong bullish note today, with both benchmark indices recording notable gains as investor optimism continued to build. The ASPI climbed 142.74 points (+0.60%) to close at 23,956.51, edging closer to the psychologically important 24,000 all-time high level, while the S&P SL20 added 31.65 points (+0.48%) to finish at 6,649.50. Positive sentiment was supported by ongoing earnings season momentum and improving macroeconomic data, reinforcing the outlook for equities.

Market activity remained robust, with total turnover reaching LKR 10.5 billion and 258.95 million shares changing hands. The Capital Goods sector dominated trading, recording the highest turnover of the day at LKR 4.05 billion from 49 million shares traded, led by DOCK.N, which contributed LKR 2.13 billion in turnover with 14.26 million shares exchanged. Crossings accounted for LKR 2.35 billion, representing 22% of total turnover, with DOCK.N recording the largest block trade valued at LKR 0.34 billion on 2.25 million shares.

Market breadth improved, with 126 gainers and 95 decliners, indicating a positive market bias and broad-based participation. LOLC.N led the upside contributors, adding 25.03 points, followed by DOCK.N, COMB.N, BIL.N, and MELS.N. On the downside, ACL.N was the largest drag, losing 4.79 points, while CFIN.N, DIAL.N, PLC.N, and HHL.N also weighed on the index.

Among notable trades, DOCK.N recorded a strong performance, generating LKR 2.12 billion in turnover with 14.26 million shares traded, closing higher with a 9.31% price gain, reflecting strong investor interest in select counters amid continued bullish momentum.