The benchmark All share Price Index (ASPI), which reached an all-time high of 7,922.66 points yesterday (18), overtaking the previous best of 7,811 points set on 14 February 2011, plunged by 113.69 points today (19) to close at 7,808.97, re-affirming Newton’s third law of motion, “every action, there is an equal and opposite reaction."

This is the first instance in 2021, the ASPI has entered the negative territory.

A similar incident occurred ten years’ back when the stock market hit its highest level in 2011.

In 14 February 2011, the ASPI gained 255 points to close at 7,811.82. However, the next day, on 15 February 2011, the ASPI plunged by 204.03 points to close at 7,607.79.

Meanwhile, the S&P SL20 index which features the largest and most liquid stocks listed on the exchange, continued its upward momentum, gaining 55.73 points to end the day on 3,059.03.

Moreover, a special event was observed with the rise in the share prices of banking stocks. Pan Asia (24%), Amana (17.14%), Sampath (8.35%), Commercial (7.10%), Nations Trust (5.60%), SANASA Development (5.26%), Seylan (4.76%), HDFC (4.64%), HNB (3.40%), NDB (2.68%), Union (2.67%) and DFCC (1.77%) banking stocks recorded positive growth today.

Today, 138 companies contributed negatively to the ASPI. Stocks which contributed significantly to the ASPI’s fall were LOLC, Commercial Leasing, LOLC Finance, Expolanka and Browns Investments.

The day’s trading recorded a turnover of Rs.11.4 billion. Browns Investments (Rs.1.47 billion), Access Engineering (Rs.1 billion) and Expolanka (Rs.991 million) made significant contributions to the turnover.