The Colombo Bourse closed in negative territory today, with sentiment weighed down by a slight increase in global oil prices.

The ASPI dropped 133 points to close at 22,024, while the S&P SL20 closed at 6,294, experiencing a 72-point decline. Top negative contributors to the ASPI were HNB, RICH, LOLC, SAMP and SINS.

HNW participation was marginally higher than retail activity, while retail participation remained around average levels.

Overall turnover also remained around average, although trading activity was somewhat constrained by disruptions arising from today’s Microsoft outage, which affected market operations and limited transaction activity.

The decline in turnover therefore reflected, in part, the operational disruption rather than a significant deterioration in investor participation.

Daily turnover stood at LKR 3.2Bn, marking an increase of 48.0% over the monthly average of LKR 2.2Bn. Capital Goods sector led the daily turnover with a share of 27%, followed by the Materials, and Banking sectors collectively contributing 41%. Foreign investors turned net buyers, posting a net inflow of LKR 35.2Mn.

BOND MARKET

Secondary market yields inch higher on profit-taking

The secondary market witnessed some profit-taking activity today, resulting in a marginal upward movement in yields. However, overall trading activity remained moderate, with volumes at moderate levels.

Among the maturities traded, the 2030 maturities recorded yields ranging from 11.00% to 11.10%, while the 2032 maturities traded between 11.50% and 11.60%.

The 2033 maturities saw yields ranging from 11.60% to 11.75%, while the 2034 maturities traded within a range of 11.90% to 11.95%.

At the longer end of the yield curve, the 2036 maturity traded at 12.12%, while the 2037 maturity recorded a yield of 12.15%. On the external front, the LKR depreciated against the USD, standing at LKR 332.50/USD, compared to LKR 332.36/USD seen previously.

The CBSL is yet to release data pertaining to market liquidity in the banking system for the day.

Courtesy: First Capital Research