Asha Securities Ltd

Foreign Transactions - 18 Sep 2024

The Colombo Bourse continued its upward trend, building on the positive momentum from the previous week. While there was some selling pressure in the banking sector during the middle of the trading day, strong bargain hunting activity helped to push the indices higher. Overall, investors remained cautiously optimistic ahead of the elections.

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Today's Treasury bill auction remained undersubscribed for the 2nd consecutive week, primarily driven by a continued decline in the bid-to-offer ratio. Short-term maturity yields increased.

Hi Everyone! 👋 We know you’re all rushing with election-related stuff, but let’s take a quick break from the campaign trail. 🗳️ Ever wondered how the election mindset is shaking up the stock market? 📉 🤔 Let’s dive into the fascinating ways investor psychology is influencing market behavior during this time. You might be surprised at the impact! 💡 Take a look at this informative picture and see how psychological factors are affecting the market! 📊 🤓 Cheers to smart investing, even in election season! 🚀📊

Sri Lankan Morning Market Pulse # IRD says first 8 months revenue collection up 28.5% to Rs. 1.22 t # Subdued economic sentiment – survey # Sri Lanka food prices sharply down after multiple VAT hikes: Analysis # Sri Lanka government, private firms serviced US$2.58bn debt in 2023: FinMin # Sri Lanka central bank net foreign reserves negative by US$728mn in July # Sri Lanka GDP grows 4.7-pct in 2024 second quarter # Sri Lanka’s tea production likely to hit rock bottom this year: PA # Sri Lanka awards 21MW of solar IPPs # Global Market Trends - Stocks end nearly flat, dollar firms before Fed rate decision # Government Securities - Secondary bond market yields climb

Market Statistics: ASPI Saw a range of 10,547 to 10,799 points. Average Daily Turnover: Increased by 13%, from 1.03Bn to 1.17Bn. The Banks sector led with 39% of total turnover, followed by Capital Goods and Food, Beverage & Tobacco sectors. Investor Takeaway: Investors should be cautious about the short-term volatility, but the positive momentum towards the end of the week may indicate a potential recovery. The increasing in government security yields and political uncertainty remain key factors to monitor. Technical Indicators: RSI for the ASPI increased to 32, suggesting a potential reversal from oversold conditions. MACD indicator remained negative, but the MACD line started to converge towards the signal line, indicating a possible change in trend.

Weekly Foreign Transactions 13 Sep 2024

The Colombo Bourse opened on a positive note for the third consecutive session, buoyed by news of renewed debt restructuring negotiations with private creditors. This development boosted investor confidence, and buying interest was evident in banking stocks and other oversold counters.

Macro Update: Sri Lanka’s Second Quarter GDP Grows by 4.7%