The Colombo Stock Exchange extended its recovery for a second consecutive session on 28 October 2026, with strong buying interest lifting both benchmark indices sharply higher.The ASPI gained 277.55 points, or 1.41%, to close at 19,970.22, while the S&P SL20 advanced 80.26 points, or 1.43%, to 5,692.57. The ASPI strengthened steadily through the session and closed near its intraday high, just below the key 20,000 psychological level.

Market turnover improved to LKR 2.17 billion, with 67.40 million shares traded. The Telecommunication Services sector dominated activity, led by Dialog Axiata with approximately LKR 849.16 million in turnover.Crossings accounted for around 14% of total turnover, led by Melstacorp with LKR 237.60 million, followed by LB Finance and Hemas Holdings.Market breadth remained strongly positive, with 151 gainers against 53 decliners, resulting in an advance-decline ratio of 2.85. However, foreign investors recorded a sizeable net outflow of approximately LKR 894.32 million.Commercial Bank was the strongest positive contributor to the ASPI, closely followed by Dialog Axiata, Hatton National Bank, Hemas Holdings and CIC Holdings. LAMB.N was the largest negative contributor.The second consecutive gain and strong market breadth indicate a meaningful improvement in short-term momentum. However, the significant foreign outflow remains a key concern, with a sustained move above 20,000 likely to be important in confirming the strength of the recovery.