The Colombo Stock market declined steeply on Thursday (12), as concerns about the economic fallout from the coronavirus pandemic continued to dominate.

In equities, Colombo’s All Share Price Index (ASPI) fell 184.97 points and closed at 5,019.55 and S&P SL20 index of more liquid stocks fell 4.66% or 112.11 points and closed 2,293.69.

Meanwhile, regular trading at the Colombo Stock Exchange (CSE) was temporarily halted for 30 minutes from 11.44 am to 12.14 pm this morning (12) as S&P SL20 index dropped by 5% during the trading session from the previous close. This is the second time regular trading at the CSE was temporarily halted this week. Earlier on Tuesday (10), regular trading was halted for 30 minutes from 9.42 am to 10.12 am as S&P SL20 index dropped by 5% during the trading session. However, it recommenced at 10.12 am.

Market capitalisation which stood at  Rs.2, 483.75 billion before trading commenced on Tuesday (10), was down to Rs.2,333.33 billion today(12)  reflecting a dip of Rs. 150.42 billion. Year to date decline of market capitalization was 18.7%.

The major contributors to the crash were John Keells Holdings, Browns Investments Sri Lanka Telecom, Ceylinco Insurance and Distilleries.

The market recorded a daily turnover of Rs. 514.4 million with 34.9 million shares changing hands. However foreign participation was very low during the day. Accordingly, foreign purchases stood at  Rs. 23.62 million and foreign sales stood at Rs.29.84 million.

As at 2020, Sri Lanka’s only Capital Market All Share Price Index has crashed down by 18.10%.