Bourse continued its sideways momentum yet another day as sizable selling pressure was witnessed on index heavyweights with investors taking out profits from appreciated shares.
As investors displayed mixed sentiment, index spiked by over 80 points in the beginning, yet failed to sustain the momentum, hovering around 10,000 level and closed the day at 10,025, losing 36 points.
Meanwhile, part of the lost momentum was regained towards the mid-day by price increases in LIOC and HAYL. A sizable collection was witnessed on LIOC as the govt. approved to build a refinery in Trincomalee.
Turnover dropped to LKR 3.3Bn (-13% cf. monthly average turnover of LKR 3.9Bn) due to the slowdown in investor activities. Capital Goods and Energy (mainly LIOC) sectors jointly contributed 46% to the market turnover.
Activity dries up in the Treasury bill market
A dull day of trading was observed on the secondary market as lackluster investor interest was noted on mid and long term maturities.
However, thin volumes were visible on 1-month treasury bills, where bids were received around 26% levels. Meanwhile, on Friday CBSL announced the weekly bill auction, where a total of LKR 65.0Bn is scheduled to be raised with LKR 28.0Bn offered for 91 day maturity, LKR 20.0Bn for 182 day and LKR 17.0Bn for 364 day maturity.
Courtesy: First Capital Research
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