The Colombo stock market fell sharply yesterday to a near six-month low, as investors adopted a wait-and-see stance amid intensifying uncertainty over tensions in the Middle East.
The ASPI ended down 0.37% or 77.08 points at 20,979.18 and the S and P SL20 was down 0.33% or 19.44 points at 5,909.45.
Market turnover was over Rs. 750 million on over 48.7 million shares traded. Foreign investors emerged as net buyers on a net inflow of Rs. 19.1 million.
With 135 counters ending in red against 71 in green, the biggest contributors to the ASPI decline were BREW, MELS, CTHR, CINS and HNB.
CT Smith Securities said John Keells Holdings emerged as the top contributor to turnover with Rs.106 million, followed by John Keells Hotels with Rs. 60 million and Ceylon Cold Stores with Rs. 42 million.
First Capital Research said the bourse experienced a notably subdued session with very limited market activity and a small number of crossings accounting for a significant portion of turnover.
HNW participation remained low, while retail participation remained exceptionally low, reflecting a broad lack of investor engagement. Increasing concerns surrounding the situation in the Middle East kept investors cautious, with many adopting a wait-and-see approach amid continued uncertainty.
The capital goods sector led the daily turnover with a share of 21%, followed by the food beverage and tobacco, and diversified financials sectors collectively contributing 28%.