Sri Lanka *market update* ASPI close down, Crossings dominate turnover

The market closed today posting a turnover of LKR 1,008,911,360 (USD 6.8mn) with the indexes moving down. ASPI closed at 6231.87 down 7.00 points (-0.11%) while the more liquid SP SL20 index closed at 3456.90 down 2.96 points (-0.09%). Crossings accounted for 50% of the turnover with two crossings in TJL.N (LKR 148mn; USD 997k), one crossing in JKH.N (LKR 52mn; USD 348k), one crossing in HNB.N (LKR 43mn; USD 292k) and five crossings in SPEN.N (LKR 264mn; USD 1,775k). Diversified sector was the highest contributor towards the turnover at LKR 459mn followed by Manufacturing sector and Banks Finance and Insurance Sector generating LKR 239mn and LKR 144mn. Foreign investors were net sellers of LKR 295.7mn worth of shares, while theirparticipation in terms of revenue increased to 57.5% (previous day 30.3%). Estimated net foreign buying topped in COMB.N LKR 46.1mn (USD 309k). Estimated net foreign selling topped in SPEN.N LKR 272.8mn (USD 1,829k). Retail activity was witnessed in counters such as JKH.N, TJL.N and TKYO.X