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)

iPhone's record breaking sale surges Apple's revenue to 42.1b dollars, in Q4 Oct 21, 3:45 pm
Washington, Oct 21 (ANI): Apple recently announced an impressive fourth quarter earnings of 8.5 billion dollars on revenue of 42.1 billion dollars, which is said to come out as a result of the record breaking iPhone sales.
Full Story
Companies fostering creativity grows more than less creative counterparts: Study Oct 20, 1:41 pm
Washington, Oct 20 (ANI): A new research from Forrester has revealed that companies that encourage creativity accomplish exceptional revenue growth than other peers.
Full Story
Govt.'s decision to deregulate prices of diesel draws mixed response Oct 18, 9:49 pm
Kolkata/ Bhopal, Oct.18 (ANI): The government's decision to deregulate the prices of diesel drew mixed response from people across the country on Saturday.
Full Story
Govt. to re-launch Direct Benefit Transfer scheme Oct 18, 9:40 pm
New Delhi, Oct.18 (ANI): The Central Government has also decided to re-launch the Direct Benefit Transfer scheme started by the UPA regime.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY