Following a sharp uptick at the beginning of the session, the Colombo Bourse continued to move upward during the trading day with minor fluctuations.
The ASPI advanced 388 points to close at 22,422, while the S&P SL20 climbed 80 points to end at 6,084. Top contributors to the ASPI were DOCK, HNB, SAMP, COMB and HAYL.
HNW and retail investors showed moderate interest, resulting in a daily turnover of around LKR 6.2Bn, which is 37% above the monthly average that stands at around LKR 4.5Bn.
The Capital Goods sector accounted for 37% of total turnover, while the Materials and Banking sectors contributed a combined 33%. Foreign investors remained net sellers, posting a net outflow of LKR 553.1Mn.
BOND MARKET
Market holds steady ahead of tomorrow’s T-bond auction
The secondary market remained subdued today as investors adopted a wait-and-see approach ahead of tomorrow’s bond auction, which also marks the first bond auction following the recent severe weather-related disruptions in the country.
As a result, trading activity was muted and the yield curve held steady throughout the day. At today’s Treasury Bill auction, the Central Bank of Sri Lanka fully accepted bids up to the initially offered amount of LKR 48.0Bn.
The 3-month bill raised LKR 10.6Bn, with the weighted average yield holding steady at 7.51%. The 6-month and 12-month maturities garnered LKR 32.9Bn and LKR 4.5Bn, respectively, while their weighted average yields remained unchanged at 7.91% and 8.03%.
On the external front, the LKR slightly depreciated against the USD, closing at LKR 308.65/USD compared to LKR 308.61/USD seen previously. Overnight liquidity in the banking system contracted to LKR 97.8Mn from LKR 101.4Mn recorded on the previous day.
Courtesy: First Capital Research
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