Sri Lanka *market update* ASPI down 0.3-pct, Nestle losses

The ASPI declined sharply due to price declines in the market heavy weight Nestle Lanka. The day’s total turnover was recorded sharply below the average twelve-month daily turnover to which John Keells Holdings contributed the majority. There were no crossings recorded. The Bourse saw net foreign selling during the day. The All Share Price Index lost 19.8 points to close at 6,562.5 (-0.3%), while the S&P SL20 Index lost 3.3 points to close at 3,661.2 (-0.1%). Total turnover for the day stood at LKR 336.3mn (USD 2,292.9k) vs. 12-months average daily turnover of LKR 909.7mn (USD 6,201.7k), whilst the volume traded for the day was 21,634k against the 12-month average daily volume of 36,093k. Top contributory counters towards the day’s turnover were John Keells Holdings LKR 47.9mn (USD 326.5k, 0.0%), Ceylon Tobacco Company LKR 46.1mn (USD 314.6k, -0.6%), Lankem Developments LKR 28.3mn (USD 193.2k, +11.6%), Tokyo Cement Company (Voting) LKR 27.7mn (USD 188.6k, – 1.3%), Tokyo Cement Company (Non-Voting) LKR 17.2mn (USD 117.5k, -0.8%).Foreign purchases amounted to LKR 92.0mn (USD 627.4k), whilst foreign sales amounted to LKR 99.7mn (USD 679.9k). This resulted in a net foreign outflow of LKR 7.7mn being recorded at the end of the day’s trading. Market capitalization stood at LKR 2,797.5bn. YTD performance of the ASPI is -4.8%.