Amid mounting uncertainty surrounding US-Iran peace negotiations, coupled with the volatility in global oil prices, the Colombo bourse drifted into negative territory.
The ASPI edged down by 44 points to close at 21,376, while the S&P SL20 declined by 36 points to settle at the 6,000 mark. JKH, NDB, CARG, RICH and DOCK stood out as the top negative contributors to the ASPI.
Market sentiment remained subdued. Participation from both HNW and retail investors indicated below average levels. Daily turnover came in at LKR 2.7Bn, representing a sharp 47.7% drop compared to the monthly average of LKR 5.1Bn.
The Consumer Durables & Apparel sector dominated activity, contributing 22% to turnover, while the Capital Goods and Materials sectors jointly accounted for 30%. Meanwhile, Foreign investors remained net sellers, posting a net outflow of LKR 1.2Mn.
BOND MARKET
Mixed activity and moderate volumes see overall yield curve broadly stable
The secondary bond market saw mixed activity today, with moderate volumes, leaving the overall yield curve largely stable. At the short end, the 01.05.2027 maturity traded at 8.70%. In the 2028 segment, the 15.03.2028, 01.05.2028, and 15.12.2028 maturities traded within a range of 9.50%-9.65%.
The 15.06.2029 maturity traded between 9.80% and 9.85%, while the 01.03.2030 maturity was quoted in the range of 9.85%-9.90%. Further along the curve, the 15.03.2031 maturity traded around 10.00%-10.05%, followed by the 15.12.2032 maturity at 10.50%, and the 01.11.2033 maturity at 10.90%.
On the external front, the LKR depreciated against the USD, closing at LKR 314.39/USD compared to LKR 313.51/USD recorded previously. Liquidity in the banking system contracted to LKR 288.31Bn from LKR 292.29Bn recorded previously.
-First Capital Research-
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