Sri Lanka *market update* ASPI close up, crossings dominate turnover

The market closed today posting a turnover of LKR 1,151,322,721 (USD 7.8mn) with the indexes moving in the same direction. ASPI closed at 6447.53 up 5.17 points (+0.08%) while the more liquid SP SL20 index closed at 3594.59 up 1.42 points (+0.04%). Crossings accounted for 60% of the turnover with four crossings in HHL (LKR 206mn; USD 1,399k), two in DIAL (LKR 241 mn; USD 1,641k), one in PAP (LKR 225mn; USD 1,530k) and one in WATA (LKR 20mn; USD 136k). Diversified sector was the highest contributor towards the turnover at LKR 343mn followed by Telecom and Power & Energy sector generating LKR 269mn and LKR 227mn. Foreign investors were net buyers of LKR 233.8mn worth of shares, while their participation in terms of revenue increased to 49.0% (previous day 31.8%). Estimated net foreign buying topped in HHL.N LKR 206.4 (USD 1403k). Estimated net foreign selling topped in DIAL.N LKR 50.5mn (USD 343k). Retail activity was witnessed in counters such as TKYO.X, AEL.N and JKH.N