The bourse experienced another day of gains, buoyed by active participation from retail investors and interest from HNWI, particularly in blue-chip stocks.
Despite minor fluctuations, the ASPI maintained its upward momentum, closing at 11,548, marking a 69 point increase and extending its winning streak to five consecutive sessions.
Investors remained eager buyers, focusing predominantly on banking stocks such as HNB, SAMP, and PABC, which emerged as key contributors to the overall turnover.
Furthermore, companies involved in imports, such as SINS and CIC, attracted notable attention amidst the sharp appreciation of the rupee.
Positive sentiment also prevailed in selected counters within the construction and tourism sectors. Turnover remained robust, reaching LKR 2.1Bn, (+5.2% cf. monthly average turnover of LKR 2.0Bn).
Notably, the banking and capital goods sectors jointly accounted for 51% of the overall turnover, driving the market's strong performance.
Yields stay static ahead of the T-Bill auction
The secondary bond market yield curve remained broadly unchanged as the market participants opted to lay low ahead of the T-Bill auction scheduled to be held on 03rd Apr 2024.
Accordingly, the overall market delivered low volumes with limited activities. During the day, 2026 maturities hovered in the range of 11.25% - 11.35% while trades for 01.05.27 and 01.09.27 settled at 11.75% and 11.91%, respectively.
Moreover, slight interest was observed on liquid tenors with 15.03.28, and 01.07.28 traded at 12.15% and 12.20% whilst 15.07.29 closed at 12.40%.
Moreover, CBSL announced an issue of LKR 135.0Bn T-Bills through an auction to be held tomorrow, out of which LKR 30.0Bn is to be raised from 91-day maturity, LKR 60.0Bn is expected to be raised from 182-day maturity while LKR 45.0Bn is to be raised from 364-day maturity.
On the external side, the LKR marginally appreciated against the USD, closing at LKR 300.14 during the day.
Courtesy: First Capital Research
Subscribe to our newsletter to get notification about new updates, information, etc..
