CSE gains over 1% amid regional market rally

The Colombo Stock Exchange gained over 1% today, with the All Share Price Index (ASPI) rising 1.05% to close at 21,620.44.

The more liquid S&P SL20 Index also advanced 1.06% to settle at 6,058.92. Despite today’s gains, the ASPI remains 4.44% lower year-to-date, while the S&P SL20 is down 1.60% so far this year.

The gains came amid a positive regional market environment, with key Asian indices rising more than 1% following strong gains on Wall Street in the previous session. Investor sentiment improved as traders pared back expectations of a US Federal Reserve interest rate hike in September.

Market breadth was positive, with 164 counters recording gains against 55 decliners.

Dialog Axiata, Hayleys and R I L Property were among the key positive contributors to the ASPI’s performance.

Market turnover stood at Rs. 2.68 Bn, below the year-to-date daily average of Rs. 3.96 Bn. Trading activity was led by Sunshine Holdings, Dialog Axiata and ACL Cables.

At sector level, Food & Beverages, Capital Goods and Materials counters dominated trading activity.