📉 CSE Weekly Update: Rs. 348 Bn Wiped Out Amid Mideast Tensions

The Colombo stock market faced a significant downturn this week, driven by global jitters over the Middle East crisis and oil prices surging above US$ 100 per barrel. • Market Performance: The All Share Price Index (ASPI) plummeted by 4.45% (1,009.36 points) to close at 21,692.55. The S&P SL20 followed suit, dropping 4.34% (276.10 points) to 6,084.65. • Wealth Erosion: A total of Rs. 348.6 Bn in market value was wiped out during the week as investor sentiment turned cautious. • Sector Impact: The Capital Goods sector dominated daily turnover at 43%, while the Banking and Food, Beverage & Tobacco sectors collectively contributed 28%. Major negative contributors included COMB, HNB, HAYL, and NTB. • Trading Activity: Friday’s turnover reached Rs. 5.27 Bn, supported by high-net-worth investor participation in MELS, ACL, and AEL. However, market breadth remained negative with 198 counters declining. • Foreign Interest: Foreign investors remained net sellers, recording a net outflow of Rs. 38.3 Mn. The market remains sensitive to geopolitical escalations and their subsequent impact on national energy costs and global equity trends.