The Colombo Bourse started the week on a mildly positive note, with the ASPI registering a modest gain of around 9 points to close the session at 23,783.
Trading remained volatile, with early gains gradually easing as the session progressed, however the index managed to maintain its ground within the green zone despite a softer market tone.
MELS, RICH, PLR, COMB, and HNB emerged as the key positive contributors to the index. Retail investors were the primary participants during today’s session, while HNW activity appeared limited.
Turnover for the day stood subdued at LKR 2.6Bn, representing a 61% decrease from the monthly average of LKR 6.6Bn. The Banking sector stood out as the topmost contributor to today’s turnover, accounting for a share of 17%.
This was followed by the Capital Goods, and Materials sectors which produced a joint contribution of around 29%. Foreign investors remained net sellers, recording a net outflow of LKR 52.8Mn.
BOND MARKET
Muted moves as investors eye upcoming T-bond auction
Ahead of the scheduled T-bond auction, the secondary market remained subdued, with limited activity and thin trading volumes.
Yield curve stayed steady, amidst limited short and mid-term trades. At the short end, 15.10.2029 traded at 9.50% while in the mid-term, 15.06.2035 maturity was dealt at 10.84%.
On the external front, the LKR depreciated against the USD, closing at LKR 309.37/USD compared to LKR 309.31/USD recorded the previous day. Overnight liquidity in the banking system expanded to LKR 288.48Bn from LKR 280.75Bn recorded previously.
Courtesy: First Capital Research
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