Market continues ‘6,000 plus drive for third straight session’ | Daily News

Market continues ‘6,000 plus drive for third straight session’

Amidst heavy retail optimism market sustained over the 6,000 psychological levels for the third consecutive session posting a Rs. 5 billion plus turnover after 3 1/2 weeks.

Transportation sector counters led the turnover for the session closely followed by Capital Goods sector making a joint contribution of 55%. Index witnessed a downtrend during the early hour of trading as it hit its intraday low of 6,075. Later market bounced back and recorded an upward movement and closed at 6,115 gaining 34 points. Market recorded low foreign participation dominated by the selling-side recording a net outflow.

With the persisting uncertainty, the secondary bond market yield curve remained broadly unchanged while witnessing low activities and volumes during the day. In the short end of the yield curve, 01.05.21 and 01.08.21 traded in the range of 4.73%-4.82% while 01.07.22 changed hands at 5.55%.

In the belly end of the curve, 15.09.24 saw the yield at 6.20% and 01.02.26 at 6.60%. Moreover, 15.08.27 traded at 6.90%. Meanwhile CBSL announced an issue of LKR 75.0Bn worth of bonds at the bond auction to be held on 12th Nov and LKR 40.0Bn worth of treasury bills at the bill auction to be held on 11th Nov 2020.