ECONOMYNEXT – Speculative trading and investor interest surrounding construction related shares pushed the Colombo Stock Exchange (CSE) on Thursday despite some volatility, brokers said.
“We saw a bit of an uptrend. It was short-lived and saw selling pressure again,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC told EconomyNext.
“Speculative trading is happening in the market.”
The broader All Share Price Index closed up 0.16 percent, or 36.85 points at 22,459.28. Meanwhile the more liquid S&P SL20 index climbed 0.18 percent, or 11.09 points higher to 6,095.15.
Uncertainty resulted in lesser activity and lower turnover levels on Thursday, Mathew said.
“Investors think there could be some implications coming from the flood situation,” he said.
Colombo Dockyard (up 17.25 rupees at 234.25 rupees), Ceylinco Holdings (up 87.25 rupees at 3,283.00 rupees), Central Finance Company (up 9 rupees at 283.00 rupees), Hemas Holdings (up 90 cents at 36.00 rupees), and Sunshine Holdings (up 1.30 rupees at 35.20 rupees) pushed the ASPI higher.
Colombo Dockyard said approval was granted by the Securities and Exchange Commission of Sri Lanka for Onomichi Dockyard Company Limited to sell its entire shareholding to Mazagon Dock Shipbuilders Limited (Mazagon) after successful completion of the Company’s Rights Issue on condition that Mazagon makes a mandatory offer to all remaining shareholders of the Company under the Takeovers and Mergers Code.
Some construction related shares saw investor interest as investors anticipate reconstruction projects to start across the flood and landslide affected areas.
ACL cables closed 75 cents higher at 254 rupees and Swisstek (Ceylon) traded 1.30 rupees stronger at 90.40.
“Slightly lower turnover was seen,” Mathew said.
Market turnover fell from 6.2 billion rupees to 5.5 billion rupees, while the share volume was 170,824,070.
In Asia, some equity markets slid due to profit taking and earning reports.
Japan’s Nikkei 225 index dropped 0.90 percent to 50,148.82 with “weaker-than-expected” earnings report from U.S. tech company Oracle Corporation which dragged down heavyweight technology shares, Japan’s Mainichi newspaper said.
Meanwhile, Pakistan’s Karachi Stock Exchange 100 index dipped 0.52 percent to 168,574.69 on profit taking following a directionless trading session on Wednesday which dragged down the index by 4.52 points to 169,451.86, Pakistan’s Business Recorder said.
Hong Kong’s Hang Seng index ended 0.040 percent lower at 25,530.51.
India’s Nifty 50 was trading 0.55 percent higher at 25,898.55 while country’s Sensex index was 0.51 percent stronger at 84,818.13.
As at 4.20 p.m Sri Lankan time, spot gold was trading at 4,216.30 US dollars, up 0.54 percent. (Colombo/Dec11/2025)