Colombo Stock Exchange indices in negative territory

Staff Writer

Indices at the Colombo Stock Exchange was in negative territory on Monday, March 16  as well – for a second straight week starting from February 27.

On January 9, the stock market value of all indices of the Colombo Stock Exchange, was at 7605 points. The All Share Price Index had plummeted to 555 points, a decrease of about 7 percent since then.

The stock market suffered a huge crash between   January  29 and February 2 this year.

Analysts cite the lack of investor confidence in the taxes introduced through the interim budget as the reason for this situation. Although the CSE saw an increase of up to 300 points til  February 27, there appears to be a sharp plunge in the indices over the recent past.

The all share price index dropped to 40.34 or 7,504.91 points.