Index took an upturn following 2-days of losses amidst renewed retail interest despite some margin selling. Index moved on the red as the market opened as month-end selling took charge specifically on heavyweights such as JKH.
Eventually by mid-session, index started to recover losses as retail investors collected on ACL and COMB before closing for the day at 9,862 gaining 17 points. Moreover, turnover climbed to a week-high, recording at LKR 5.9Bn (+43% cf. monthly average turnover of LKR 4.1Bn) backed by a sole contribution of 45% from the Transportation sector owing to the foreign buying of EXPO amounting to LKR 2.3Bn.
Yields held broadly steady ahead of the auctions
The secondary market yields remained broadly unchanged as the market participants opted to lay low ahead of the bill and bond auctions to be held on 28th and 29th Sep 2022, respectively. In the midst of thin trading, the secondary market witnessed mixed activities on 01.07.25 maturity which was traded at 29.00% while buying interest in maturities close to 1Yr was seen trading at 29.60% level. Meanwhile, CBSL announced the largest value issue of T-Bonds in 3 months amounting to LKR 145.0Bn through an auction to be held on 29th Sep 2022.
Courtesy: First Capital Research
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