The Colombo Stock Exchange will restart operations tomorrow, Monday (11) Contrary to the earlier operational times of 9.30 am to 2.30 pm the CSE will commence trading at 10.30 am and end at 1 pm.
However, there will be no assurance of continuity to these times from Tuesday onwards, the CSE spokesman told the Sunday Observer yesterday.
The Exchange re-opens for trading tomorrow after having been closed for
seven weeks. The last trading day was March 20, where the ASPI was 4571.63 and the S&P SL20 Index was 1947.42.
A new three-tier circuit breaker mechanism was introduced by the Securities and Exchange Commission of Sri Lanka which will take effect when the market opens tomorrow.
The First Circuit breaker will trigger if the S&P SL20 index drops by 5% halting the market for a 30-minute period. The second circuit breaker will be triggered if the market dips by a further 2.5% to reach 7.5% and will be halted for another 30 minutes. The third circuit breaker would have the market closed for the rest of the day should the index dip by another 2.5% reaching a 10% drop for the day.