“Market retreats amid renewed global trade route concerns”

The Colombo Bourse closed in negative territory today, with the ASPI shedding 108 points to end at 22,254, while the S&P SL20 lost 20 points to close at 6,196. Investor sentiment remained cautious amid renewed concerns over potential disruptions to global trade routes, weighing on risk appetite. Both HNW and retail participation remained at low levels.

“The main negative contributors to the ASPI were JKH, SPEN, DFCC, COMB, and ACL. Daily turnover stood at LKR 1.2Bn, marking a decrease of 57.5% over the monthly average of LKR 2.8Bn”, said -First Capital Research said.

Capital Goods sector led the daily turnover with a share of 30%, followed by the Banking, and Insurance sectors collectively contributing 29%. Foreign investors remained net sellers, posting a net outflow of LKR 154.7Mn.

HHL dominated the overall turnover with LKR 211.0Mn (17.8%) followed by CINS with LKR 124.3Mn (10.5%) worth of shares being traded during the session. In terms of volume, HHL saw 6.5Mn shares being traded (14.7%), whereas ASPH accounted for 4.7Mn shares (10.6%). Overall market volume decreased by 41.6% to 44.3Mn.

Foreign investors remained net sellers, posting a net outflow of LKR 154.7Mn. CINS, RCL and COLO recorded the highest foreign outflows while the largest foreign inflows were attracted by COMB, SAMP and HNB.