LNP – ASPI soars to record-breaking high with biggest daily gain ever

By Almas Equities Research

The All Share Price Index (ASPI) recorded its highest ever daily gain, surging by 704.88 points to close at 15,580.83, reflecting a 4.74 percentage increase. This historic rally was primarily fueled by immense buying interest in banking sector counters, which led the market momentum throughout the session. The S&P SL20 Index also experienced significant upward movement, gaining 290.94 points (+6.68 percentage) to close at 4,643.63, highlighting broad-based strength across key sectors.  

The rally was underpinned by positive developments in global markets, following the U.S. President’s announcement of a 90-day pause on higher reciprocal tariffs for non-retaliating countries, while simultaneously raising tariffs on Chinese imports to 125 percentage. This geopolitical shift triggered strong gains in major global indices and elevated investor sentiment in emerging markets like Sri Lanka.  

Locally, the ASPI surged past the 900+ point mark within the first 10 minutes of trading, primarily driven by gains in the Capital Goods sector. Although the market cooled slightly as selling pressure emerged, momentum was sustained as investor interest transitioned from Capital Goods to Banking counters, which ultimately drove the index to its record close.  

The market concluded the day with a robust turnover of Rs 6.97 billion, with 212.24 million shares traded. Commercial Bank of Ceylon PLC (COMB.N) was the top positive contributor to the index, adding 67.34 points, while Glassware Company PLC (GLAS.N) was the leading negative contributor, pulling the index down by 2.87 points. The highest turnover was recorded by Sampath Bank PLC (SAMP.N), which posted Rs 1.12 billion in value from a volume of 9.96 million shares traded.  

Overall, the market remained strongly positive throughout the session, with robust buying interest and encouraging global cues. Despite episodes of volatility, the day demonstrated firm investor confidence and resilience, reflecting the market’s ability to respond swiftly to global macroeconomic developments and geopolitical shifts.