ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange (CSE) registered a two-month low, following the destructive Cyclone Ditwah, as selling pressure was seen in the market, brokers said.
“Market dropped by over 600 points, mainly due to the flood situation,” Ranjan Ranatunga, Assistant Vice President – Research at First Capital said.
Ranatunga said that investors are currently in an assessing stance. He believes this downtrend will continue.
“In my opinion, I think we will continue to see selling pressure,” he said.
The broader All Share Price Index (ASPI) closed 3.04 percent, or 690.76 points down at 22,022.06 while the more liquid S&P SL20 index closed 2.89 percent, or 181.16 points lower, at 6,085.87.
“Selling sentiment was seen across the board today,” Ranatunga said.
The CSE site did not list the shares that dragged down the ASPI on Monday.
However, construction sector shares attracted some investor interest due to possible reconstructions following the widespread damage caused by Cyclone Ditwah.
Tokyo Cement (Lanka) closed 6.90 rupees higher at 98.00, Access Engineering traded 2.40 rupees higher at 74.00, Kelani Cable rose 34.00 rupees to 1,139.50 and ACL Cables was 3.00 rupees stronger at 225.00.
“Turnover was little below the monthly average,” Ranatunga said.
Market turnover was 5.2 billion rupees. Meanwhile, the share volume was 236,404,106.
Equity markets in Asia traded mixed as most nations are suffering from a series of natural disasters.
Japan’s Nikkei 225 index was trading lower “hit bystronger yen and rising long-term yields as remarks from the Bank of Japan governor caused increased speculation that the central bank could raise interest rates this month,” Japan’s Mainichi newspaper said.
The index closed 1.89 percent lower at 49,303.28 on Monday.
Pakistan’s KSE 100 index climbed 0.85 percent higher to 167,985.23 on open.
Indian market ended lower on Monday as Cyclone Ditwah affected its southern areas.
“India’s equity benchmarks struggled to hold on to record highs on Monday and the rupee declined to an all-time low as investors worried that outflows might persist amid uncertainty over a trade deal with the United States,” Reuters said
Its Nifty 50 index moved 0.10 percent lower to close at 26,175.75, while the BSE Sensex traded 0.076 percent weaker at 85,641.90. (Colombo/Dec01/2025)