Sri Lanka's bourse relaxes rule on 10 pct price band

   Apr 20, 4:14 pm

Colombo, April 20 (Xinhua-ANI): Sri Lanka's stock market opened on a positive note on Friday after the removal of the 10 percent price band by the Securities and Exchange Commission (SEC), analysts said here. The market's value swelled by 41 billion rupees (32.3 million U. S. dollars) after the announcement while the main All Share Price Index gained by 2 percent or 111 points as sentiments of investors and brokers got a boost from the SEC. The SEC, which is the regulatory arm of the Colombo Stock Exchange, said in a statement its commissioners at their meeting on Wednesday decided in favor of the lifting of the five-market- day 10 percent price band on certain securities based on an agreed formula which takes into account volatility and volumes, with immediate effect. Despite the removal, the SEC said it will continue to monitor the behavior of the market and the price band may be re-imposed in the future. Most brokers made it a point to welcome the removal of the price band in addition to linking it to the market's revival while some cautioned investors from being carried away. (Xinhua-ANI)

Wipro Science Education Fellowship program inducts 61 school teachers May 27, 6:32 pm
Bangalore, May 27 (ANI-Businesswire India): Wipro Ltd along with its partners University of Massachusetts (UMass) Boston, Mercy College and Montclair State University on Wednesday announced the induction of 61 school teachers into the Wipro Science Education Fellowship (SEF) program in the United States.
Full Story
Global smartphone market set to slow down as China nears saturation May 27, 6:06 pm
Washington, May 27 (ANI): An American market research, analysis and advisory firm has predicted again that the global smartphone market will continue to see a slump in overall growth in 2015.
Full Story
Emirates inspires you to 'Be there' May 27, 6:06 pm
New Delhi, May 27 (ANI): Emirates, a global connector of people, passions and places, has launched 'Be There', a global campaign that celebrates curiosity, wanderlust, and the adventure that comes with
Full Story
'World needs more leaders like you', WBG Prez to PM Modi May 27, 12:23 pm
New Delhi, May 27 (ANI): World Bank Group President Jim Yong Kim on Wednesday congratulated Prime Minister Narendra Modi on the completion of his government's one year in power and said the world needs more leaders like him.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY