The bourse continued to propel its course with positive momentum and significant gains. The market experienced a slow start at the beginning of the day but gradually picked up its momentum by mid-day.
The ASPI closed at 12,404, continuing the trends of the past week in reaching its highest levels since February 2022 and marking a 0.41% increase from the previous day to which the most significant contributors were BUKI, CFIN, NDB, AHPL, and CCS, where BUKI and CFIN led the way.
Investor sentiment remained strong, steering keen interest in a variety of sectors, notably the NBFI, retail, and tourism sectors. Turnover saw a decline from the previous day, reflecting slow market activity at the beginning of the day, standing at LKR 2.5Bn with a 19.8% decrease from the previous day, where the Diversified Financials sector led turnover at 23%, followed by the Capital Goods, and Food, Beverage and Tobacco sectors jointly contributing to 35% of overall turnover, further reflecting the varied interests of investors in the market.
There was a net foreign outflow of LKR 56.2Mn signaling interest in outward investments. The market overall saw a day of positive investor sentiment and gains, sustaining its course in an optimistic direction led by the NBFI sector.
Secondary bond market active with moderate volumes
The secondary bond market continued to see active buying interest across the yield curve during today’s session. Investor participation was largely centered on the shorter and the mid tenures of the yield curve.
Thus, several trades were enticed on the 15.05.26, 01.06.26, 15.12.26 and 15.01.27 maturities between 10.80%-10.55% whilst 01.05.27 and 15.09.27 maturities were traded between 11.13%-11.00%. Moreover, several trades were also enticed on the 15.03.28, 01.07.28 and 15.12.28 maturities at 11.65%-11.45% whilst 15.05.30 maturity saw trades between 12.12%-12.00%.
Furthermore, CBSL also announced to raised LKR 155.0Bn via the T-bill auction scheduled for 08th May 2024, of which LKR 30.0Bn is expected to be raised from the 91-day whilst LKR 60.0Bn and LKR 65.0Bn is to be raised from 182-day and 364-day bills.
Meanwhile, on the external front, LKR continued to appreciate against the greenback and CBSL published mid-rate for today stood at LKR 296.80 per USD, recording an appreciation of 8.4%YTD. Moreover, in-line with the reduction in SDF, Average weighted Fixed Deposit Rate (AWFDR) continued to slide for the 13th consecutive month and was recorded at 12.12% as at 30th Apr-24.
Courtesy: First Capital Research
Subscribe to our newsletter to get notification about new updates, information, etc..
