Market drifts lower amid cautious trade
The CSE closed lower on Thursday, as the market traded sideways for most of the session amid subdued turnover and lower trading volumes. Investor sentiment remained cautious, with participants closely monitoring the economic impact of the recent cyclone and the pace of recovery across listed entities.The All Share Price Index (ASPI) declined by 37.12 points (-0.17%) to close at 22,292.57, while the S&P SL20 edged down 3.90 points (-0.06%) to 6,066.43.
Total market turnover stood at LKR 2.34 billion, with 57.13 million shares traded. Activity was led by the Materials sector, which recorded LKR 0.63 billion in turnover from 7.7 million shares. Within the sector, TKYO.X emerged as the top contributor, generating LKR 0.32 billion with 3.64 million shares traded, though the counter closed 1.4% lower.Crossings accounted for LKR 0.37 billion, representing 15% of total turnover. The largest crossing was recorded in HHL.N, amounting to LKR 140 million from 3.9 million shares.
Market breadth remained negative, with 117 decliners outweighing 90 gainers, reflecting subdued market pressure. On the upside, JKH.N led index gains, contributing 8.98 points, followed by CTC.N, PKME.N, BUKI.N, and DFCC.N. On the downside, DOCK.N was the largest drag, shedding 23.08 points, alongside SFCL.N, RICH.N, MELS.N, and BREW.N.
Overall, the session reflected a wait-and-see approach, as investors remained on the sidelines amid macro uncertainty and post-cyclone assessments.