Stock market closes within minutes of opening

Monday, 25 April 2022 12:02 - - {{hitsCtrl.values.hits}}

The Colombo stock market today closed within half hour of opening after triggering successive circuit breakers.

When trading began after the 2 week recess, within seconds both ASPI and S&PSL 20 index dipped by over 6% triggering the first halt.

Thereafter the indices dipped further forcing the eventual closure as per SEC rules.

The S&PSL20 declined by over 12% and ASPI by over 9%. Turnover was Rs. 265.4 million involving 30 million shares.

Post-Avurudu and Easter holidays, the CSE was closed for a week as an extra cooling off period given envisaged volatility given multiple negative news including 7% policy rate hike, temporary suspension of all external debt repayment, social unrest and political instability.