Colombo Bourse ends lower

The Colombo Bourse closed slightly lower today after early gains faded, with selling pressure emerging about half an hour into trading.

The All-Share Price Index (ASPI) declined 0.13% or 27 points to close at 21,172.74, while the more liquid S&P SL20 Index slipped 0.06% or 4 points to 5,942.56.

The market's inability to sustain early momentum reflected cautious investor sentiment amid mounting geopolitical risks and continued economic uncertainty. Year to date, the ASPI is down 6.42%, while the S&P SL20 has declined 3.49%.

Brent crude oil, which briefly climbed above USD 100 per barrel on Thursday, eased to around USD 97 but remained about USD 25 higher than its level in early July, raising concerns over renewed global inflationary pressures.

Market breadth remained negative, with 73 gainers against 130 losers. The decline in the ASPI was led by Hatton National Bank PLC, Ceylinco Holdings PLC and Ceylon Grain Elevators PLC.

Market turnover amounted to Rs. 2.45 Bn, higher than the previous session but still below the year-to-date daily average of Rs. 4.10 Bn.

Trading was dominated by United Motors Lanka PLC, which recorded crossings exceeding Rs. 1.02 Bn, followed by Hatton National Bank PLC and Commercial Bank of Ceylon PLC. Retailing, Banking and Capital Goods were the most active sectors.

Meanwhile, as companies began reporting June quarter earnings, Alumex PLC posted earnings of Rs. 0.25 per share for the quarter, compared with Rs. 0.04 a year earlier, supported by a sharp decline in cost of sales and lower net finance costs despite weaker sales. The share closed unchanged at Rs. 16.00.