The Colombo Stock Exchange closed lower on Friday, with both benchmark indices in the red as selling pressure built through the afternoon session.

The All Share Price Index fell 68.26 points, or 0.33%, to 20,812.64, while the S&P SL20 declined 18.15 points, or 0.31%, to 5,883.50. The ASPI briefly approached the 20,800 level before a modest late recovery limited the loss.

Turnover was subdued at Rs. 873.38 million on 29.94 million shares — back below the Rs. 1 billion mark after Thursday’s banks-led session. The Banks sector again led activity with Rs. 244.40 million, while SING.N recorded the highest single-counter turnover at Rs. 157.29 million.

Thin participation behind the headline numbers

Crossings accounted for 42% of total turnover, led by SING.N at about Rs. 156.35 million, with block transactions also recorded in Sampath Bank, Lanka IOC and NDB. Market breadth was negative, with 78 gainers against 116 decliners for an advance-decline ratio of 0.67. Foreign investors were net sellers of roughly Rs. 140.21 million.

Carson Cumberbatch was the largest drag on the index, followed by Commercial Bank, SINS.N, LOLC Finance and Bukit Darah. Lion Brewery was the strongest positive contributor.

The combination of sub-Rs. 1 billion turnover, weak breadth, heavy crossing concentration and continued foreign selling points to cautious broad participation, according to the session commentary published by Almas Equities Research.

A negative week

Over the week as a whole the ASPI lost about 224 points, or 1.1%, Hiru News reported, with average daily turnover easing to Rs. 1.1 billion from Rs. 1.2 billion the previous week. Monday produced the year’s lowest daily turnover at Rs. 596 million. Foreign investors were net sellers of Rs. 134 million across the week, taking cumulative net foreign selling to Rs. 57.4 billion.

Hiru attributed the week’s negative tone to Middle East tensions and firmer oil prices, alongside rising Treasury bill yields and month-end margin selling. Banking counters including Sampath Bank, HNB and Commercial Bank drew selective high-net-worth interest, as did construction counters Access Engineering and Royal Ceramics.

Note: Hiru’s weekly wrap rounds the S&P SL20 close to 5,887; the Daily Mirror’s closing print of 5,883.50 is consistent with Thursday’s close of 5,901.65 and is used here.