Despite market correction Colombo Stock Exchange (CSE) had many important events during the week ended 6th Aug 2010.
Under directive of Securities & Exchange Commission of Sri Lanka (SEC), CSE has introduced the 10 percent upward & downward price band on all listed securities within any trading day based on the previous day’s closing price. But this price band will not apply for the following trades.
  • First day trading on any securities.
  • The Parcels introduced on all or nothing basis.
  • A crossing.
  • Debentures.
  • Securities of which the previous closing price is below one rupee.
In addition to above introduction CSE changed the Tick size across the board to 10 cents. Previously it was applied only to stocks traded below five rupees.
The other notable events were first day trading of ODEL shares & over subscription of PC house initial Public Issue. The final figures of PC House oversubscription is still to come.
The benchmark ASI lost 96.11 points to close the week at 5065.07 while MPI closed the week 95.28 points lower at 5759.45. Total equity turnover for the week amounted to 20.06 billion rupees compared to previous week figure of 16.21 billion rupees. Foreigners were net buyers with huge margin. Foreign investors purchased Rs 5.35 billion worth of stocks while they sold stocks valued at Rs 2.11 billion.
Eventful week for the Colombo Stock Exchange.
We feel the market correction will prevail during the next week too as there are few overvalued stocks trading in the market.  
Eventful week for the Colombo Stock Exchange.

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Filed under: Colombo Stock Market • daily • weekly Report

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