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Bourse continues to surge; Rupee strengthens, bond yields mixed

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LSE

LSE
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

The Colombo bourse continued to surge ahead on Tuesday (07) with the All Share Price Index gaining 80.51 points to close 1.32 percent higher at 6,201.68.

Year-to-date, the Colombo Stock Exchange has grown 9.9 percent.

The S&P SL20 closed 1.47 percent higher, gaining 50.83 points to 3,511.95. Year-to-date the index was up 13.83 percent.

Turnover dipped from the previous day’s Rs. 4.1 billion to Rs. 1.38 billion.

Foreign purchases amounted to Rs. 322.47 million, leading to a net inflow Rs. 248.78 million.

"Positive sentiment continued to push the indices higher amid strong activity levels centred on banking, finance, diversified and manufacturing counters accounting for over 75% of turnover," John Keells Stockbrokers said.

Vallibel One saw more than six million shares change hands during the day closing 12.04 percent higher at Rs. 21.40 while SEYB saw 2.5 million shares traded before closing at Rs. 40.30, up 1.77 percent.

Commercial Bank closed at 118.50, up 0.51 percent after 847,473 shares changed hands while NDB closed at Rs. 180 on 480,439 shares traded, up 2.92 percent from the previous day’s close.

HNB saw more than 388 thousand shares change hands before closing 0.89 percent higher at Rs. 170.

More than a million Colombo Land stocks were traded, closing 3.77 percent higher at Rs. 55.

"Gains made in Aitken Spence, John Keells Holdings, Vallibel One and DFCC weighted heavily on the index. With blue chips driving the market, the S&P SL20 also recorded heavy gaining rushing up 51 points," Softlogic Equity Research said.

"Vallibel One tops turnover: Interest in Vallibel One has been high in the last few days, while activity in the counter accelerated following the acquisition by its subsidiary Royal Ceramics. The counter recorded 6.1mn shares changing hands as it traded between LKR19.3 and LKR21.8 and closing on the high side at LKR21.4 gaining 12.0%. Royal Ceramics continued to remain active gaining 3.5% to close at LKR104.0," it said.

Meanwhile, the rupee closed at Rs. 126.30/35 against the US dollar yesterday (07), strengthening from an opening position of Rs.126.40/60, currency dealers said.

Activity in the secondary market for Treasury bonds was buoyant ahead of today’s primary market auction of Treasury bills.

The more liquid five year Treasury bond saw its yield ease marginally to 11.32/35 percent from 11.35/37 percent while the one year yield dipped to 11.10/25 percent from 11.15/25 percent.

The four year bond yield dipped to 11.05/15 percent from 11.18/25 percent.

The eight year bond yield increased marginally to 11.85/88 percent from 11.83/85 percent while the three year bond yield tightened to 11.24/26 percent from 11.22/28 percent.

source - www.island.lk

Thank You.

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

their acqusitions are kept secret to the last minute and finalise very quickly leaving no tips to the market.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Did you notice some foreign collection of CERA at Rs 65-80? I guess there was some insider info.

I thought it was freak collection but then the real fun began from the jump from Rs 80-120.





seek wrote:their acqusitions are kept secret to the last minute and finalise very quickly leaving no tips to the market.

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