Market surges on strong buying

By Almas Equities Research

The Colombo Stock Exchange (CSE) delivered a strong performance on Tuesday, with both key indices posting significant gains amid heightened trading volumes and improved turnover levels. Momentum remained firm throughout the session, supported by broad-based buying interest and increased block trades, which reinforced positive investor sentiment.

The All Share Price Index (ASPI) surged 313.56 points (+1.42%) to close at 22,445.89, while the S&P SL20 climbed 73.56 points (+1.22%) to 6,111.35.

Total market turnover stood at LKR 3.42 billion, with 101.36 million shares traded. Activity was led by the Capital Goods sector, which recorded LKR 1.18 billion in turnover from 19.50 million shares. Within the sector, DOCK.N emerged as the top turnover contributor, generating LKR 0.33 billion with 1.72 million shares traded, while also leading index contributions.

Crossings accounted for LKR 0.85 billion, representing 24% of total turnover. The largest crossing was recorded in COMB.N, amounting to LKR 0.41 billion from 2.01 million shares.

Market breadth remained decisively positive, with 167 gainers outweighing 58 decliners, reflecting widespread buying interest despite pockets of selective profit-taking. On the upside, DOCK.N led index gains, contributing 40.83 points, followed by MELS.N, HNB.N, RICH.N, and COMB.N. On the downside, LION.N was the largest drag, shedding 3.58 points, alongside VLL.N, BUKI.N, CCS.N, and HASU.N.

Among notable trades, BOGA.N recorded active trading, generating LKR 179 million in turnover with 1.11 million shares traded, despite closing 22.34% lower, adding to intraday volatility.

Overall, the session reflected renewed risk appetite and strong year-end positioning, as the market closed the month on a firm footing.