The Colombo Stock Exchange closed marginally lower on Thursday, with both benchmark indices giving up early gains as selling pressure returned through the session.
The All Share Price Index fell 18.26 points, or 0.09%, to 21,066.89, while the S&P SL20 lost 4.72 points, or 0.08%, to 5,942.78, the Daily Mirror reported. Hiru News reported the same closing levels for both indices.
The ASPI traded above 21,130 during the morning before losing momentum and finishing near the day’s low.
Turnover and activity
Turnover came in at Rs. 1.31 billion on 46.28 million shares. The Materials sector led activity with Rs. 228.43 million, while PickMe recorded the highest turnover of any single counter at Rs. 211.49 million.
Crossings made up roughly 26% of total turnover, led by PickMe with Rs. 77.50 million, followed by Lanka IOC, Access Engineering, Dipped Products and Sampath Bank.
Breadth and foreign flows
Market breadth was negative, with 91 gainers against 115 decliners. Foreign investors recorded a net outflow of Rs. 162.38 million.
Carson Cumberbatch was the strongest positive contributor to the index, followed by Commercial Bank, Hayleys, C T Holdings and Ceylon Cold Stores. Dialog Axiata was the largest drag, followed by Ceylinco Insurance, Richard Pieris, CIC Holdings and Distilleries.
Context
Thursday’s close leaves the ASPI slightly below the 21,085.15 level it reached on Tuesday, when the index ended higher in a second consecutive session of gains.
The Daily Mirror noted that the failure to hold early gains, combined with negative breadth and heavier foreign selling, suggests the recent rebound remains fragile, with the index still holding above 21,000.
