ECONOMYNEXT – The Colombo Stock Exchange All Share Price Index climbed for the third consecutive session recording 17,434.94, hitting a new high, brokers said.
“We saw a bit of volatility in the early morning trade however market recovered towards the latter part,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital told EconomyNext.
The index moved 0.47 percent, or 81.89 points, higher on Thursday.
“Most of the sectors across the board was positive today.”
Selected banks, capital goods and food, beverages and tobacco sector shares pushed the index up despite trading lower in the early morning trade. Dipped Products, a company with export exposure contributed to the climb of the index following the release of the annual report on Tuesday.
“Heavyweight stocks contributed to push,” Ranatunga said.
Top contributors to the growth of the ASPI were John Keells Holdings, which ended 0.40 rupees higher at 21.80; Sampath Bank, which rose 1.25 rupees to 121.00; HNB which ended 3.00 rupees higher at 324.50; Lion Brewery (Ceylon) which rose 69.25 rupees to 1,489.75; and Dipped products, which rose 2.70 rupees to close at 57.80 rupees.
Some volatility was seen in the market during the early morning trading weighing down the index; however market recovered towards the latter part of the session.
Low interest rates, lack of alternative investment options, positive corporate earnings and positive indices such as the Purchasing Managers Index, are driving the market high, Ranatunga said.
The more liquid S&P SL20 closed up 0.53 percent, or 27.12 points, at 5,186.78.
Turnover declined to 5.59 billion rupees in the session from 7.37 billion on Wednesday. However, turnover was above the monthly average of 4.4 billion rupees.
The share volume grew to 222,070,124 from 279,015,511 on Thursday.
US-Sri Lanka second round of trade talks are still on progress. Investor sentiment surrounding some export shares continued to remain wary surrounding the uncertainty.
Hayleys Fabric ended 0.60 rupees weaker at 41.30 rupees, Hayleys Fibre fell 0.60 rupees to end at 47.40 rupees, Hayleys closed 0.25 rupees down at 158.00 rupees, while Haycarb, an activated carbon manufacturer ended 0.30 rupees up at 88.90 rupees, and Teejay Lanka traded 0.20 rupees stronger at 47.70 rupees.
In the region, markets were trading on mixed sentiment as US recorded its lowest private sector hiring in over two years, raising concerns over the trade policy affecting country’s economy, CNBC said.
Tokyo Nikkei 225 index fell with investors selling export shares on US economic data, Japan’s The Mainichi newspaper said. Japanese Yen has strengthened over weak US economic data.
Kospi index has continued its climb for the second session after new administration takes office in South Korea. Index has rose to new yearly high with foreign investors recording their largest purchases of the year, South Korea’s The Chosun daily said.
Pakistan stock Exchange KSE 100 index was trading marginally up at 0.01 percent higher or 121,811.02 while India’s Nifty 50 rose 0.57 percent to 24,761.30 and BSE Sensex grew 0.55 percent to 81,442.04.
As at 3.35 pm Sri Lankan time, spot gold was trading at 3,404.50 US dollars, up 24.55 US dollars. (Colombo/Jun5/2025)
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