Despite most Asian markets made gains, Colombo Stocks continued its’ downward trend.
Investors are slowly switching from stocks to fixed income securities such as fixed deposits & treasury bills. All share index fell 18.48 points & ended at 1548.69 while Milanka ended the day at 1720.54.
Commercial Bank of Ceylon shares further declined on oil hedging deal & ended the day at Rupees 66.25 (down by 3.00)
The total equity turnover for the day was Rs. 30.9 million.
CSE Announcements
IMPOSING MARKET HALT
The Board of Directors of the CSE, at a meeting held on the 20th November 2008, has decided that, in the event the Milanka Price Index (MPI) (or the index that may replace the MPI in the future) drops 5% within the day from the previous market day's close, a "Market Halt" be imposed on all equity securities for a period of 30 minutes. This would be effective from 2nd January 2009.Market wide index based circuit breakers are imposed by stock exchanges to halt trading of equity securities in order to provide a "cooling off" period when there is an unusual movement in the index. Please note that the Broker Firms may cancel any pending orders during the "Market Halt". However, Broker Firms cannot enter new orders or amend pending orders during the "Market Halt".
Monday, December 8, 2008
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