After continuous selling in the previous sessions, bourse closed in green gaining 23 points with revitalized interest on banking counters uplifting the index. Consumer services sector witnessed active investor participation driven by the tourism sector which experienced more than 76,000 tourist arrivals during the first three weeks of March 2023.
CTC witnessed increased foreign selling and local buying, whereas profit-taking was extended on HAYL due to the ex-dividend (XD). Market turnover recorded at LKR 1.9Bn (-1.6% cf. monthly average turnover of LKR 1.9Bn) contributed by the Food, Beverage & Tobacco sector (41%), Banking sector (20%), and the Capital Goods sector (10%). However, foreign investors remained net sellers and recorded a net foreign outflow of LKR 597.1Mn.
Yields stay still as muted mode extended
The secondary market continued to remain dull and generated ultra-thin volumes during the day on the back of rising concerns over possible domestic debt restructuring among investors. As a result, slight selling interest was witnessed on the mid end of the curve where 15.09.27 maturity was seen changing hands at 28.30%.
Courtesy: First Capital Research
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