Market closes higher as indices extend gains

The Colombo stock market closed higher on Tuesday, with both benchmark indices ending the session in positive territory amid moderate turnover and continued domestic investor participation

The All Share Price Index (ASPI) rose to 22,445.89, up from 22,132.33 at the previous close, while the S&P SL20 Index gained to 6,111.35 from 6,037.79, reflecting price increases across a range of large-cap counters.

Market turnover for the day amounted to Rs. 3.43 billion, largely driven by equity trades. Domestic investors accounted for the bulk of activity, with Rs. 3.37 billion in purchases and Rs. 3.33 billion in sales. Foreign participation remained limited, with foreign purchases of Rs. 59.7 million and foreign sales of Rs. 96.5 million, resulting in a net foreign outflow.

Total market volume stood at 96.46 million shares, with activity concentrated in selected counters. A total of 3.78 million trades were recorded during the session.

Market capitalisation stood at Rs. 7.99 trillion, marginally lower than the previous month’s level, reflecting price adjustments despite gains recorded during the session.

Among the day’s top gainers were Bogala Graphite, SMB Finance, and Raigam Salterns, which recorded notable price increases. Hayleys Fibre, Dockyard, and LCB Finance also closed higher, contributing to the overall upward movement in the indices.

On the losing side, Autodrome led declines, followed by Tess Agro, Madulsima, and Mullers. Mercantile Shipping, Palm Garden Hotels, Ceylon Printers, Vidullanka, and InsureMe also ended the session lower.

The All Share Total Return Index (ASTRI) rose to 34,113.99, while the S&P SL20 Total Return Index increased to 12,483.41, reflecting the combined impact of price movements and dividends.

Source: The morning