Market extends pullback

The CSE extended its downward trend on Friday, marking another red session amid subdued turnover and lower trading volumes.

Investor sentiment remained weak as the market continued to pull back from its All-Time High (ATH), with the ASPI now reflecting a 9.3% correction from peak levels.

On a weekly basis, the ASPI declined by 359 points, while the S&P SL20 shed 41 points, underscoring the broader market weakness. For the session, the ASPI fell 143.48 points (-0.64%) to close at 22,149.09, while the S&P SL20 eased 9.89 points (-0.16%) to 6,056.54.

Total market turnover amounted to LKR 3.45 billion, with 75.13 million shares traded.

Activity was led by the Capital Goods sector, which recorded LKR 1.05 billion in turnover from 26.34 million shares. Within the sector, HHL.N emerged as the top contributor, generating LKR 0.54 billion with 15.57 million shares traded.

Crossings accounted for LKR 0.66 billion, representing 19% of total turnover. The largest crossing was recorded in HHL.N, amounting to LKR 441 million from 12.7 million shares.

Market breadth remained negative, with 135 decliners outweighing 66 gainers, reflecting sustained selling pressure. On the upside, COMB.N led positive contributions, adding 8.08 points, followed by LION.N, CARS.N, TKYO.N, and GRAN.N. Meanwhile, DOCK.N was the largest drag on the index, shedding 90.87 points, alongside MELS.N, HHL.N, JKH.N, and NDB.N.

Among notable trades, DOCK.R saw heavy activity, generating LKR 796 million in turnover with 9.2 million shares traded, and closing the session with a sharp 49.9% price decline, adding to the day’s downside pressure.

Overall, the market remains in a corrective and risk-off phase, as investors continue to reassess valuations amid heightened macro and sector-specific uncertainties.