ECONOMYNEXT – The Colombo Stock Exchange All Share Price Index fell 0.17 percent on Tuesday after the previous day’s record high, brokers said.
“Today we saw a bit of profit taking after the index surpassed the psychological 18,000 mark yesterday,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC told EconomyNext.
The ASPI closed 1.75 percent, or 29.99 points lower from Monday at 17,996.73 ending a highly volatile session.
The S&P SL20, meanwhile, moved down 0.18 percent, or 9.54 points down, to close at 5,342.97.
Profit taking was mostly seen in the banking sector, while buying interest was seen in consumer and its related shares, Mathew said.
The ASPI was weighed down by HNB which moved 3.25 rupees down to 333.25; NDB which ended 1.75 rupees weaker at 118.50; C T Holdings which moved 8.50 rupees lower to 541.00; Central Development Business Finance, which fell 18.75 rupees to close at 373.75, and Carson Cumberbatch which declined 15.75 rupees to end at 469.25.
Turnover rose to 7.6 billion rupees while the share volume was 679,191,056.
In the region, India’s Nifty 50 index was trading 0.097 percent higher at 25,541.80 and BSE Sensex was 0.11 stronger at 83,697.29.
In Pakistan, government offices came under attack by “India-backed” terrorists in Balochistan’s Mastung district on Tuesday killing a teenager, Pakistani provincial government said.
The attack did not seem to impact the market, with the Karachi Stock Exchange 100 index trading 2.19 percent higher at 128,379.16.
Further away, Japan’s Nikkei 225 index fell on concerns over prospects of tariff talks between Japan and the United States.
The index ended 1.24 percent, or 501.06 points lower from Monday at 39,986.33 ending a five-day rise.
“The market was also pressured after U.S. President Donald Trump complained Monday that Japan is not importing enough American rice, further clouding the outlook for bilateral tariff negotiations with the two countries struggling to make progress,” Japan’s The Mainichi quoted a broker as saying.
US stocks have risen over the past week as the US administration said the new global tariffs will be back in effect from July 9.
“US stocks have bounced back on hopes that Trump will reach deals with other countries and avert trade wars that could stifle the economy and send inflation higher,” The Euro news said.
“People are a bit worried about it but the current concentration is on the financials,” Mathew said answering a query about the effects of US tariff reinforcement on the Sri Lankan stocks.
As at 3.40 pm Sri Lankan time, spot gold was trading at 3,359.33 US dollars, up 49.03 US dollars.(Colombo/Jul1/2025)
