Market Plunge: ASPI Drops 3.5% as Global Oil Spikes 📈

The Colombo Stock Exchange (CSE) faced significant downward pressure on Monday as global oil prices surged above US$ 115 per barrel, triggering panic selling across the board. • Market Indices: The All Share Price Index (ASPI) fell by 3.51% (797.77 points) to close at 21,904.14, its lowest level since December 2025. The S&P SL20 also declined by 3.65%. • Sector Impact: • Banking: The primary laggard, contributing 32% of turnover but losing 3.45% in its sector index. Key declines included Commercial Bank (-4.1%) and Sampath Bank (-3.4%). • Capital Goods: Down 3.82%, heavily impacted by losses in John Keells Holdings (JKH) (-4.3%) and ACL Cables (-3.1%). • Energy: Bucking the trend, Lanka IOC saw price appreciation of Rs. 1.75 as global crude prices rose. • Trading Activity: Market turnover remained healthy at Rs. 5.8 Bn. However, market breadth was overwhelmingly negative with 262 decliners against only 6 gainers. • Investor Sentiment: Selling was largely driven by retail investors reacting to Middle East tensions. Foreign investors remained net sellers with an outflow of Rs. 6.1 Mn, despite CBSL assurances regarding the economy’s resilience to energy shocks.