Bourse experienced subdued sentiment throughout the trading day, largely influenced by profit-taking among retail investors and mixed feelings regarding external uncertainties.
Consequently, the ASPI declined to a two-week low to 11,753, shedding 45 points after recovering from an intraday low at of 11,691. Index heavyweight counters such as MELS and LIOC, along with Banking sector counters like HNB, COMB, and DFCC, exerted negative pressure on the index.
Despite prevailing vulnerabilities, daily turnover stood at LKR 1.5Bn, marking a marginal 36.0% decrease from the monthly average of LKR 2.3Bn. The Diversified Financials sector led turnover at 25%, surpassing the Banking sector for the 2nd consecutive day, which contributed 18%, while the Capital Goods sector contributed 17%.
Dreary sentiment continues for yet another day in the secondary bond market
Slight selling interest persisted for yet another day in the secondary market, with limited activities taking place on the belly end of the curve, largely on the investor favorite 2027 and 2028 maturities.
Few trades took place between 11.35% to 11.38% on the 15.01.27 maturity whilst trades were also recorded on the 01.05.27 maturity at 11.85% and 15.09.27 maturity between 11.95%-12.00%.
Moreover, on the 2028 tenure, several trades took place on the 15.03.28 and 15.12.28 maturities at 12.20% and 12.30%, respectively.
Meanwhile, on the external front, LKR continued to depreciate against the greenback and recorded at LKR 301.27, whilst the weekly AWPR for the week ended 10th April 2024, climbed up higher after 10 consecutive weeks to 10.63% from 10.56% in the previous week.
Courtesy: First Capital Research
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