The Co;ombo bourse experienced a slight upward movement today as the ASPI gained 34 points, closing at 15,882 with turnover reaching LKR 2.1Bn, reflecting a 1.8% decline from the monthly average of LKR 2.1Bn.
The total number of trades was notably low, with around 9,000 transactions taking place. More than 59.4% of the turnover came from crossings, highlighting significant participation from HNW investors.
A major portion of the turnover was driven by LCEY, which accounted for LKR 1.1Bn. The market showed high volatility throughout the day, initially rising in the morning but fluctuating significantly during the latter half.
The positive contributors included HNB, SAMP, COMB, JKH and BUKI. The Capital Goods sector was the largest contributor to turnover, accounting for 59%, followed by the Banking and Food, Beverage & Tobacco sectors, which jointly contributed 25%. Foreign investors turned net sellers, with a net outflow of LKR 2.4Mn.
Selling stance pushes the yield curve up
In the secondary bond market today, participants maintained their selling stance from the past few days, pushing the yield curve higher than the previous week.
This resulted in moderate trading volumes and activity. Accordingly, at the mid end of the curve, 15.02.2028, 15.03.2028, 01.05.2028 and 01.07.2028 maturities traded in the range 9.80% to 9.97%.
Furthermore, 15.10.2028 and 15.12.2028 traded within the range of 10.00% to 10.20%. Meanwhile 2029 maturities, 15.09.2029, 15.06.2029 and 15.12.2029 traded within the range of 10.20% to 10.40% and 15.12.2032 bond traded within the range of 10.82% to 10.75%.
In the forex market, the LKR appreciated against the greenback and stood at LKR 296.5/USD, compared to 296.6/USD recorded on the previous day. Meanwhile, overnight liquidity in the banking system contracted to LKR 152.8Bn from LKR 167.0Bn recorded on the previous day.
Courtesy: First Capital Research
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