The Colombo Stock market which declined steeply on Tuesday 10^th March prompting a trading halt just ten minutes after the start, recovered today (Wednesday 11^th March) to post a gain of 82 points on the All Share Price Index and the S&P SL20 Index gained 44 points.

In terms of a percentage, the ASPI improved by 1.61% to 5,204.52 and the S&P SL20 index gained 1.87% to 2,405.80 which are the biggest gains in both indices since 18 November 2019.

Market turnover was Rs.428.8 million.

Stock Markets globally started the week on a negative note as investors responded to concerns of a global downturn resulting in fund flows out of the Global markets.

These implications were even felt by major global markets, such as in the United States where the DOW Jones closed down by more than 2000 points for the first time ever, and the UK recording the Fifth biggest one day fall in FTSE’s history during trading on 09 March 2020. Global markets at large posted the biggest falls since the 2008 financial crisis.

A similar sentiment was observed in the local market as well, as the ASPI and the S&P SL20 declined by 4.1% and 4.7% respectively during trading on 10^th March 2020, the first day of trading for the week.