Sri Lanka *market update* ASPI close up; Turnover moderate amidst low investor participation

The market closed today posting a turnover of LKR 406,081,864 (USD 2.7mn) with the indexes moving up. ASPI closed at 6,444.97 up 9.80 points (+0.15%) while the more liquid SP SL20 index closed at 3,619.90 up 11.35 points (+0.31%). Crossings accounted for 31% of the turnover with two crossings in JKH.N (LKR 123mn; USD 836k). Diversified sector was the highest contributor towards the turnover at LKR 270mn followed by Banking, Finance and Insurance Sector and Manufacturing sector generating LKR 58mn and LKR 18mn. Foreign investors were net buyers of LKR 188mn worth of shares, while their participation in terms of revenue decreased to 39.3% (previous day 44.0%). Estimated net foreign buying topped in JKH.N LKR 178.2mn (USD 1,203k). Estimated net foreign selling topped in CCS.N LKR 2.5mn (USD 17k). Retail activity was witnessed in counters such as JKH.N, COCR.N and CCS.N