News Today: Colombo Stock Exchange Continues Declining

The Colombo Stock Exchange continues declining, maintaining its downward momentum as investor anxiety grows amid escalating geopolitical tensions in the Middle East.

The All Share Price Index (ASPI) plunged by 210.51 points or 1.22%, closing at 17,071.44, while the S&P SL20 Index shed 57.43 points or 1.11%, ending at 5,094.31. Total market turnover stood at LKR 3.90 billion, driven by the trading of over 181 million shares. Market sentiment leaned heavily bearish, with only 40 gainers compared to 176 losers, further reinforcing the downward pressure on the ASPI.

Among the day’s top performers, Bukit Darah PLC (BUKI.N) added 3.04 points to the ASPI, while Hayleys PLC (HAYL.N) emerged as the most significant negative contributor, pulling the index down by 14.85 points. The Capital Goods sector led the way in terms of turnover, generating LKR 0.957 billion and making up nearly 24% of the day’s activity.

Crossing transactions accounted for approximately LKR 0.855 billion or 22% of the day’s total turnover. A notable crossing involved John Keells Holdings (JKH.N), with 11 million shares exchanged for LKR 0.239 billion.

Investor mood remains cautious as the worsening conflict in the Middle East stirs fears of broader economic repercussions. Despite the gloom, long-term investors may view this period as a strategic window to enter the market, capitalizing on undervalued opportunities created by the ongoing panic selling.