Questions linger over sharp drop in CSE

COLOMBO (News1st): A sharp drop in the Colombo Stock Exchange that performed exceptionally well days ago is questionable, Dr. Anil Jayantha, a senior lecturer has said. "When large scale traders attempt to hike supply and demand, other investors follow suit, thereby creating an illusion," he said on Wednesday. "We even requested the Securities and Exchange Commission to look into the matter, citing a possible manipulation". Dr. Jayantha noted that institutions such as the Employees Provident Fund, Employees Trust Fund and Sri Lanka Insurance Corporation buy most of these stocks. "We cannot cover up our poor performances with a veil and hoodwink regulatory bodies, MPs and even competent authorities," the lecturer noted.