ECONOMYNEXT – Colombo’s All Share Price Index (ASPI) closed 0.23 percent higher on Friday as conflicting rulings by US courts on the global tariff implementation weighed down investor interest, brokers said.
“Market was mostly flat in the first half of the day. Towards the second half interest came back in,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital told EconomyNext.
The broader ASPI ended 39.26 points higher at 16,854.86. The S&P SL20 closed up 0.37%, or 18.30 points at 4,981.57.
Investor interest was seen in mid-cap shares; largely retail interest, banks and high net worth stocks, Ranatunga said.
Top contributors to the ASPI were Hayleys, which ended 5.25 rupees up at 155.25; followed by Capital Alliance Holdings, which rose 7.00 rupees to 17.00; Commercial Bank, which ended 2.25 rupees higher at 148.25; NDB which rose 3.50 rupees to 109.75; and R I L Property, which rose 2.00 rupees to close at 21.00.
Capital Alliance Holdings commenced trading on Friday contributing 994 million rupees to the turnover.
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Turnover was 5.16 billion rupees while shares volumes grew to 210,809,185 from 173,817,424 in previous session.
“Positive earnings drove the market sentiment,” Ranatunga said.
Investor sentiment was weighed down in global markets as the US administration’s tariffs came back into effect.
Singapore’s equity market fell on Friday as did regional equity markets.
“Across the broader market, decliners beat gainers 248 to 209, as 1.3 billion securities worth S$3.3 billion changed hands,” Singapore’s The Business Times newspaper said.
The benchmark Straits Times Index declined 0.6 percent or 22.23 points to 3,894.6.
Japan’s Nikkei 225 index declined on electric appliance, precision instrument and service issues on its top tier prime markets, Japan’s Mainichi newspaper said.
Nikkei 225 index ended 1.22 percent, or 467.88 points lower at 37,965.10.
Foreign investors are becoming more cautious about the Indian stock market, indicating a three-month rally may run out of steam despite retail traders growing optimistic, according to monthly derivatives data analysed by two brokerages, Reuters said.
However, India’s Nifty 50 index traded 0.33 percent lower at 24,750.70 while the BSE Sensex fell 0.22 percent to 81,451.01 in the session.
The London Stock Exchange remained unaffected by the reinstated US tariffs.
“Britain’s main indexes climbed on Friday, poised for weekly and monthly gains, despite a U.S. appeals court reinstating President Donald Trump’s tariffs just a day after a trade court had ordered an immediate block on them,” Reuters said.
LSEG FTE 100 index was trading 0.67 percent up at 8,774.31.
As at 4.30 p.m Sri Lankan time, spot gold was trading at 3,309.66 US dollars, down 15.59 US dollars.(Colombo/May30/2025)
