The Colombo Bourse witnessed heightened investor activity and positive sentiment, with the ASPI surging past the 20,000 mark by gaining 290 points to close at 20,218.
This marks a significant milestone, as the ASPI reached a fresh all-time high and entered uncharted territory. The index experienced steadfast gains and withheld its positive trajectory throughout.
The top positive contributors for the day were COMB, DFCC, LOLC, NTB and SAMP. Strong interim earnings across most banking sector stocks sparked investor interest in the sector, contributing to today's overall market rally.
Increased participation from both retail and HNW investors lifted today's turnover to LKR 9.5Bn, marking a 49% increase from the monthly average of around LKR 6.4Bn.
The banking sector dominated turnover, contributing 22%, followed by the Capital Goods, and Diversified Financials sectors with a combined contribution of 39%. Foreign investors remained net sellers with a net outflow of LKR 18.8Mn.
BOND MARKET
Market tone mixed as investors stay cautious
Rebounding from yesterday's subdued tone, the secondary market saw mixed trading activity with moderate volumes. Despite this, the yield curve remained largely stable, indicating continued investor caution.
Amongst the traded maturities, the short end of the yield curve saw, the 01.05.2027 maturity traded at 8.40%, while the 15.02.2028 and 01.05.2028 bonds changed hands between 8.71% and 8.77%. Further along the curve, the 15.10.2028 traded at a rate of 8.85% and 15.06.2029 traded within the range of 9.30% to 9.31%.
The 15.05.2030 and 15.03.2031 maturities were quoted at the rates of 9.47% and 9.85%, respectively. Furthermore, the 01.11.2033 bond was seen trading between 10.64% and 10.65%. In the forex market, the LKR depreciated against the greenback, closing at LKR 301.0/USD, compared to the previously seen rate of LKR 300.9/USD.
Meanwhile, overnight liquidity in the banking system contracted to LKR 88.33Bn from the previously seen level of LKR 118.16Bn
Courtesy: First Capital Research
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