Colombo Bourse Gains After Presidential Election

News Today: Colombo Bourse gains after Presidential Election

The Colombo Bourse continued its positive momentum for the fifth consecutive day after the Presidential Election, closing in the green despite a volatile trading session. The benchmark index, ASPI, experienced a sharp decline of 180 points at the start but gradually recovered, closing at 11,097 points, gaining 130 points by the end of the session.

Key contributors to the positive movement were banking sector companies and blue-chip stocks, with Commercial Bank (COMB), Hatton National Bank (HNB), Sampath Bank (SAMP), John Keells Holdings (SPEN), and Melstacorp (MELS) leading the charge.

Turnover, however, saw a dip compared to the previous session, standing at LKR 994.3 million. This marked a 2.6% increase from the monthly average of LKR 969 million, thanks to increased retail investor participation. The banking sector was the largest contributor, accounting for 36% of the overall turnover, followed by the Capital Goods and Diversified Financial sectors, which contributed 32%.

Foreign investors continued to remain net sellers, with a net outflow of LKR 5.2 million, reflecting cautious sentiment in global markets. Despite this, local investors maintained a positive outlook, fueling the market’s recovery post-election.