Bourse slid in to red territory on profit taking after recording 4 consecutive days of gains. Turnover for the day stood at a near 2-month high of LKR 3.5Bn.
Index shot up with a sharp gain as it hit an intraday high of 8,749 shortly into the opening, but soon plunged and moved on a downward trajectory for the rest of the session as investors sought to take profits following large gains of previous sessions coupled with ambiguous sentiment.
However, index displayed a slight recovery towards the end of the session but failed to recover the losses and closed for the day at 8,417 losing 40 points.
Turnover was led by a joint contribution of 53% from Transportation sector and Food, Beverage & Tobacco sector. Foreign investors turned net buyers while recording low participation.
Auction yields stay flat ahead of the monetary policy review
The secondary market yield curve remained inverted while the overall market activities displayed lackluster performance ahead of the monetary policy review announcement due tomorrow.
During the day, 01.06.25 maturity changed hands at 23.50%. Meanwhile, at the bill auction held today, only 18.3% of the total offered amount of LKR 90.0Bn was accepted with weighted average yields of 03M, 06M and 1Yr T-Bills remaining unchanged at 24.07%, 24.69% and 24.50%, respectively.
Moreover, a significant drop in the acceptance level of 03M T-Bills (only 12.8%) was witnessed in compared to the previous auctions held.
Courtesy: First Capital Research
Subscribe to our newsletter to get notification about new updates, information, etc..
