Sri Lanka stock trading halted after 5-pct plunge over COVID19
ECONOMYNEXT – Trading at Sri Lanka’s Colombo Stock Exchange was halted for 30 minutes Thursday after Standard and Poor’s Sri Lanka 20 Index of liquid stocks plunged 5 percent as investors followed global markets down.
The S &; P SL 20 Index fell 121 points to 2,284 points while the benchmark All Share Point Index was down 212 points to 5008 points.
On Wednesday Sri Lanka’s stocks recovered from an eight year low a day earlier, when trading was also halted.
But renewed Coronavirus restrictions in the West which unsettled global markets have also spooked domestic investors, brokers said.
The CSE halted trading from 1145 am to 1215 Thursday.
“There is some panic in the market after the first domestic transmission of a Coronavirus patient occurred,” a broker said.
“Today it is mostly panic. Turnover is low.”
Rumours have spread in Colombo that a student of a leading school who was the son of the first Sri Lankan Coronavirus patient had been infected. But Anil Jayasinghe head of Sri Lanka’s health service said no such finding had been made.
Foreign investors have been selling out of the market for some time, but local investors are also selling.
John Keells Holdings down 6.30 rupees to 129.70 rupees a share
Commercial Bank down 3.20 rupees to 74.80 rupees a share
CTC down 8 rupees to 1,012 rupees a share
HNB down 7.80 rupees to 110 rupees a share
Seylan Bank was down 2.50 rupees to 39.50 rupees a share
Aitken Spence Hotels was down 1.50 rupees to 18 rupees a share while Aitken
Spence plc was down 3.30 rupees to 35 rupees a share.