Buoyed by the persistence of positive tone, Colombo Bourse moved upward, driven by the contribution from a mix of sectors. The ASPI ended at 22,319, up by 144 points.
Both retail and HNW participation were high, while HNW participation was largely observed towards Banks and Diversified Financials sector counters. JKH, HNB, LFIN, COMB and PKME were the top positive contributors to the index.
Turnover stood at LKR 8.5Bn, reflecting an increase of 16% compared to the monthly average that stands at LKR 7.3Bn. Diversified Financials sector took the lead in terms of sector-wise contribution to turnover, with a share of 37%, while Banks and Capital Goods sector jointly contributed 30%.
Additionally, higher gains were observed in CFVF, due to the announcement of cash dividends and higher HNW participation was observed towards ACL, due to the sub division of shares. Moreover, continued investor participation was observed in penny stocks, similar to yesterday’s session. Foreign investors turned net sellers, recording a net outflow of LKR 98.1Mn.
BOND MARKET
Yield curve holds steady as volumes remain moderate
The secondary bond market reflected mixed sentiment, with moderate trading activity resulting in a yield curve that remained unchanged from the previous day.
Among the actively traded maturities, the bonds maturing on 15.12.2026, 15.09.2027, and 15.10.2028 were traded at the rates of 8.30%, 8.75%, and 9.25% respectively. Further along the curve, the 15.09.2029 and 15.12.2029 maturities traded within a range of 9.73% to 9.75%. Additionally, the 15.05.2030, 01.07.2030, and 15.03.2031 bonds saw trades at the rates of 9.77%, 9.78%, and 10.09% respectively.
Meanwhile, the 15.12.2032 maturity changed hands at yields ranging between 10.55% and 10.56%. On the external front, the LKR depreciated against the USD, closing at LKR 302.73/USD vs. LKR 302.62/USD seen previously. Overnight liquidity in the banking system expanded to LKR 169.2Bn from LKR 156.8Bn recorded the previous day.
Courtesy: First Capital Research
Subscribe to our newsletter to get notification about new updates, information, etc..
