Colombo stock market begins March with sharp dip
- CNL Reporter
- March 5, 2025
- Business News
- Colombo stock market begins March with sharp dip
- 0 Comments
The Colombo stock market yesterday began the new month of March on a dismal note with a sharp dip in indices and lacklustre turnover.The benchmark ASPI was down by 1.9% and the active S&P SL20 by 2.1%. Turnover was Rs. 1.5 billion involving 65.2 million shares.
First Capital said the Colombo Bourse entered March on a notably downbeat note, experiencing heightened volatility driven by a palpable profit-taking sentiment. The ASPI saw a short-lived uptick during the opening hours of today’s session, only to falter and gradually decline throughout the day.
The Banking sector proved to be the primary source of downward pressure on the ASPI, with HNB, COMB, and NDB among the most significant negative contributors, joined by MELS and BUKI. On the flip side, CTC, SPEN, and AHUN stood out as the top positive contributors.
Investor participation remained subdued, with turnover slipping as against Rs. 4.1 billion average for the month. The Banking sector dominated turnover contributions, accounting for 28%, while the Capital Goods and Food, Beverage, and Tobacco sectors collectively contributed a solid 35%.
