On Friday, the Colombo Stock Exchange ended its four-week winning streak, with indices declining due to profit-taking. The S&P SL20 dropped by 2.24%, while the benchmark ASPI fell by 1.83%. Despite the dip, the ASPI and S&P SL20 recorded weekly gains of 3.3% and 4.2%, respectively. Friday’s turnover reached Rs. 11.48 billion, involving 554.87 million shares, with the weekly average at Rs. 10.59 billion. Foreign investors contributed a net inflow of Rs. 142 million.
According to First Capital, most sectors experienced price declines as investors opted to lock in profits. Notable activity was observed in the banking and conglomerate sectors. Major contributors to the negative movement included Sampath Bank (SAMP), Commercial Bank (COMB), LOLC Holdings (LOLC), Melstacorp (MELS), and Hayleys (HAYL). The ASPI closed at 16,049, down 299 points, amid market volatility. Retail investor activity increased, while high-net-worth (HNW) participation remained low, driving turnover to Rs. 11.5 billion—73.2% higher than the monthly average. The Banking sector led with 20% of turnover, followed by the Capital Goods and Food, Beverage, and Tobacco sectors, jointly contributing 38%.
NDB Securities noted price declines in Sampath Bank, Commercial Bank, and LOLC Holdings as key drivers of the indices’ decline, with total turnover surpassing Rs. 11.4 billion. HNW and institutional investors were active in Hemas Holdings, Hatton National Bank, and Dialog Axiata, while mixed interest was seen in Browns Investments, John Keells Holdings, and Sampath Bank. Retail investors focused on counters like Waskaduwa Beach Resort, Renuka Agri Foods, and Beruwala Resorts.
The Banking sector remained the largest contributor to turnover, with Hatton National Bank and Sampath Bank leading the way. Hatton National Bank’s share price dropped Rs. 5.25 to close at Rs. 320.25, while Sampath Bank’s share price fell Rs. 4.50 to close at Rs. 117.25. The Capital Goods sector, led by John Keells Holdings, was the second-highest contributor to turnover, although its sector index declined by 0.27%. John Keells Holdings’ share price increased by 20 cents to Rs. 23.80.
Other significant contributors included Browns Investments, whose share price dropped by 30 cents to Rs. 7.80, and LOLC Holdings, which declined by Rs. 26.75 (3.74%) to close at Rs. 689.25.
