Colombo Stock Exchange Halts Trading for the Third Day

COLOMBO (News1st): Colombo Stock Exchange halted trading for 30 minutes for the second straight session on Friday, the third time in a week as an index of most liquid stocks, the S& P SL 20 dropped below 5 percent, as global markets down on Coronavirus fears.

The S&P SL 20 Index fell 5.04 percent or 115.6 points to 2,178 points when trading was halted around 1000 am. But the index ended slightly recover 2.74 percent weaker at 2,230.86 points. The benchmark Colombo All Share Price Index ended 2.89 percent weaker at 4,874.73 points dropping below the psychological barrier of 5,000 points. Days turnover was at 1.05 billion rupees. Health officials on Thursday announced two cases of domestically transmitted are being treated at the Infectious Decease Hospital Colombo while the news sent shockwaves and panic buying triggered in local supermarkets. Global oil prices have also fallen sharply, which is expected to help Sri Lanka with higher state revenues as the authorities remain cautious about cutting prices.