The All-Share Price Index (ASPI) fell sharply at the opening of trading before recovering part of its losses during mid-session. However, the market resumed its downward trend later in the day, with the index declining 0.89% to close at 22,570.03.

Meanwhile, the S&P SL20 Index also moved lower, slipping 0.66% to end at 6,222.79.

Negative investor sentiment was largely driven by uncertainty surrounding the status of the Strait of Hormuz and signs of a renewed escalation in tensions between the United States and Iran.

Market breadth remained weak, with 48 gainers compared to 182 decliners. The day’s fall in the ASPI was mainly weighed down by R I L Property PLC, C T Holdings PLC, and Dialog Axiata PLC.

Total market turnover stood at Rs. 4.11 billion, below the year-to-date average daily turnover of Rs. 5.49 billion. Trading activity was led by Softlogic Finance PLC, Hikkaduwa Beach Resort PLC, and Softlogic Capital PLC.

Sector-wise, Capital Goods, Diversified Financials, and Banking accounted for the highest share of market activity.