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Sri Lanka stocks close 6.22-pct down ahead of curfew

ECONOMYNEXT – Sri Lanka’s stocks plunged 6.22 percent down re-opening after a four day Coronavirus holiday and closing at 1200 noon as a weekend full day curfew was imposed to stop the spread of Coronavirus.

The Colombo Stock exchange trading closed at 1200 noon to allow staff to get home.

Colombo’s All Share Price index dropped 303.10 points to close at 4,571.63.

S&P SL20 index closed 11.90 percent or 262.42 points down at 1,943, in the second hour of trading, after a 30 minute trading halt owing to the index falling over 5 percent following market open, data from the Colombo Stock Exchange said.

Turnover was 420.7 million rupees with 13 stocks gaining and 152 falling.

Earlier in the day stocks plunged over 11 percent measured by the Standard and Poor’s SL 20 Index, while the benchmark All Share Index fell over 5-percent as the government slapped full days curfews over the weekend.

Bond markets were inactive, dealers said. Trading in Sri Lanka’s forex markets were also thin over the week with no way quotes and the rupee fell amid unprecedented liquidity injections.

Sri Lanka’s central bank slapped import curbs and also stopped bank from buying Sri Lanka’s dollar sovereign bonds.

Sri Lanka is imposing island wide curfew from 600 pm Friday till Monday morning. (Colombo/Mar20/2020)

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