“Market gains on global optimism with strong institutional activity”

Amid heightened investor optimism surrounding US–Iran peace negotiations, following Iran’s confirmation that the US had responded to its latest proposal, global capital markets showed positive momentum, which in turn supported the Colombo Bourse to close in positive territory.

The ASPI increased by 145 points to close at 22,695, while the S&P SL20 gained 37 points to settle at 6,245 said First Capital Research.

 NDB, DIAL, MELS, DOCK and HARI emerged as the top positive contributors to turnover. HNW participation was notably elevated, with crossings accounting for 57.8% of total turnover, while retail investor participation remained subdued. Nevertheless, overall market sentiment was positive. Daily turnover stood at LKR 4.8Bn, reflecting an increase of 31.7% compared to the monthly average of LKR 3.7Bn. The Food, Beverage & Tobacco sector led turnover with a 56% share, followed by the Banking and Capital Goods sectors, which collectively contributed 23%.

CTC dominated total turnover, recording LKR 2.4Bn and accounting for 49.7% of the total turnover. Foreign investors remained net sellers, registering a net outflow of LKR 2.5Bn, with CTC accounting for the highest foreign outflow of LKR 2.4Bn.

CTC dominated the overall turnover with LKR 2.4Bn (49.7%) followed by COMB with LKR 481.1Mn (10.0%) worth of shares being traded during the session. In terms of volume, SEMB saw 12.5Mn shares being traded (13.8%), whereas JXG accounted for 7.0Mn shares (7.7%). Overall market volume decreased by 42.1% to 90.2Mn.

Foreign investors remained net sellers, posting a net outflow of LKR 2,454.9Mn. CTC, LGL and JKH recorded the highest foreign outflows while the largest foreign inflows were attracted by LOFC, LCBF and BIL.