ASPI hits a record breaking 14,000

• 12 Dec 2024
• 0

The Colombo Bourse reached a new milestone, surpassing the 14,000 mark and closed the trading session at 14,036, gaining 151 points.

During today's trading session, the majority of investor attention was focused on Banking sector stocks, along with companies in the Food, Beverage, & Tobacco sector like LMF, as well as Construction sector stocks such as JAT, and ACL.

Additionally, BREW, HNB, SAMP, JKH and COMB emerged as the top positive contributors to the index. Amidst multiple off-board transactions and increased participation from retail investors, turnover stood at LKR 7.4Bn, marking an increase of 76.8%, from the monthly average. 

Moreover, the Capital Goods sector led the turnover by 24%, followed by the Banking and Materials sectors jointly contributing 35% of the overall turnover. There was a net foreign inflow of LKR 306.6Mn signaling interest in internal investments

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Investor appetite fuels the market with robust activity

The Central Bank conducted an LKR 132.5Bn worth bond auction today and partially accepted LKR 130.8Bn from the total offered. Accordingly, 15.09.2029 maturity enticed a full acceptance from the total offered amount of LKR 77.5Bn while only LKR 53.3Bn was accepted from the 01.06.2033 bond where a total of LKR 55.0Bn was offered.

The 15.09.2029 was accepted at a weighted average yield rate of 10.75% whilst 01.06.2033 closed at a weighted average yield rate of 11.47%. Ahead of the auction, the secondary market saw substantial buying interest, particularly in the 2028 bond series.

Several maturities within the 2028 bond were actively traded, with the 15.02.2028 and 15.03.2028 bonds closing between 10.10%-10.15%. Meanwhile, the 01.05.2028, 01.07.2028, and 15.10.2028 bonds closed at yields of 10.20%, 10.25%, and 10.40%, respectively.

Furthermore, the 15.12.2028, 15.09.2029, and 15.03.2031 bonds saw trades at 10.50%, 10.70%, and 11.27%, respectively. Following the auction, a slight wave of profit-taking emerged, leading to price quotes drifting slightly higher from the intra-day lows.

Despite this, investor participation remained robust, with trading volumes reaching elevated levels. On the external side, LKR continued to appreciate against the greenback closing at LKR 290.30/USD compared to yesterday’s closing of LKR 290.31/USD.

Courtesy: First Capital Research

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