Sri Lanka *market update* ASPI close up 0.1-pct, 13wk high

The ASPI gained sharply to close above its 13-week high mainly due to the number of advances (88) outpacing the number of declines (59). Index gains were supported by price gains in stocks such as Asiri Hospital Holdings, Softlogic Holdings, Sampath Bank, Tokyo Cement and Overseas Reality.The day’s turnover crossed LKR 1.8bn mark to which Ceylon Grain Elevators made the highest contribution. Crossings were recorded in Chevron Lubricants Lanka, Commercial Bank (Voting),John Keells Holdings (Voting) and Sampath Bank.The bourse saw net foreign selling during the day. The All Share Price Index gained 9.2 points to close at 6,603.8 (+0.1%), while the S&P SL20 Index lost – 9.2 points to close at 3,628.0 (-0.3%).Total turnover for the day stood at LKR 1,805.8mn (USD 12,428.6k) vs. 12-months average daily turnoverof LKR 935.9mn (USD 6,441.5k), whilst the volume traded for the day was 52,209k against the 12-month average daily volume of 37,081k. Top contributory counters towards the day’s turnover were Ceylon Grain Elevators LKR 319.7mn (USD 2,200.6k, +11.9%), National Development Bank LKR 294.9mn (USD 2,029.8k, -3.4%), Commercial Bank (Voting) LKR 212.6mn (USD 1,463.1k, +0.2%), Sampath Bank LKR 174.8mn (USD 1,202.9k, +1.6%), Chevron Lubricants Lanka LKR 91.7mn (USD 631.3k, -0.6%) Foreign purchases amounted to LKR 507.1mn (USD 3,490.2k), whilst foreign sales amounted to LKR 909.5mn (USD 6259.8k). This resulted in a net foreign outflow of LKR 402.4mn being recorded at the end of the day’s trading.