Stake sales in CT Holdings and its subsidiary Cargills (Ceylon) worth more than Rs. 15 billion pushed turnover on the Colombo Stock Exchange to Rs. 16.85 billion on Monday — the largest single transaction of 2026 — even as the market itself closed lower.
CT Holdings saw 20.14 million shares, or 10 percent of the company, change hands at Rs. 575 a share. Cargills (Ceylon) saw six million shares, a 3 percent stake, sold at Rs. 700 a share, EconomyNext reported, citing brokers.
The transaction surpasses the previous largest of the year, a Rs. 9 billion sale of Commercial Credit & Finance shares on August 6.
A high turnover that flatters the day
The headline figure masked a weak session. The All Share Price Index fell 71.84 points, or 0.34 percent, to close at 21,344.77, according to the Daily Mirror’s market report. Roughly 67.08 million shares traded in all.
Crossings — pre-arranged block trades negotiated off the order book — accounted for about Rs. 15.83 billion, or close to 94 percent of equity turnover. The Food and Staples Retailing sector alone generated some Rs. 15.79 billion of the day’s business. CTHR.N recorded about Rs. 11.59 billion in turnover and CARG.N about Rs. 4.20 billion. A smaller John Keells Holdings crossing of 2.34 million shares at Rs. 19.90 was worth about Rs. 46.53 million.
Strip out the block trades and the picture was one of broad selling. Only 62 securities advanced against 130 that declined, an advance-to-decline ratio of 0.48, and foreign investors were net sellers to the tune of Rs. 909.90 million.
CT Holdings was the single largest positive contributor to the index, adding 11.37 points and closing up 4.91 percent at Rs. 550.50 — below the Rs. 575 crossing price. Cargills closed down 0.80 percent at Rs. 680.75. Commercial Bank of Ceylon took the most off the index, subtracting 9.39 points, with Melstacorp and Ceylon Tobacco Company also among the drags on both outlets’ lists.
The two outlets differ on the S&P SL20. The Daily Mirror reported the index down 18.69 points, or 0.31 percent, at 6,009.40; EconomyNext put it down 10.79 points, or 0.18 percent, at 6,017.30. Neither has explained the discrepancy.
‘Investors willing to get large stakes’
Raynal Wickremeratne, Head of Research and Strategy at NDB Securities, told EconomyNext the scale of the deal was a positive signal.
“Even in a global turmoil scenario, there are investors will[ing] to invest at high value, shows that the market has strengthened,” he said. “It’s a good sign that investors are willing to get large stakes because that means they’re in for the long run.”
Neither report named the buyers or the sellers in the CT Holdings and Cargills transactions.
