Colombo Stock Market Rebounds with Record Rs. 12.32 Billion Turnover

The Colombo Stock Exchange (CSE) resumed normal trading today (08) following the unexpected market disruption experienced yesterday (07), recording a strong rebound marked by a record turnover exceeding Rs. 12 billion.

Trading commenced as usual this morning after yesterday’s session was halted amid irregular transactions. The most notable highlight of today’s trading was a total turnover of Rs. 12.32 billion, one of the highest on record.

A major contributor to the day’s turnover was a crossing in LEE HEDGES PLC, valued at Rs. 3.93 billion.

Meanwhile, Wealth Trust Securities PLC officially commenced secondary market trading today, generating a turnover of Rs. 1.16 billion. The company’s shares, which were issued at Rs. 7.00 during its Initial Public Offering (IPO), traded within a price range of Rs. 14.90 to Rs. 19.80 during the day. The share closed at Rs. 18.90, delivering an approximate 166% gain to IPO investors.

Yesterday’s trading session on January 7 lasted only about 23 minutes before the market was halted following an irregular transaction involving Wealth Trust Securities shares, where a share issued at Rs. 7.00 was reportedly traded at an abnormal price of Rs. 25,000. As a result, the CSE, with the concurrence of the Securities and Exchange Commission of Sri Lanka (SEC), decided to cancel all equity transactions executed prior to the market halt.

Reflecting today’s recovery, the All Share Price Index (ASPI) surged by 233.28 points, closing at 23,527.13, representing a 1% gain compared to the previous trading day. The S&P SL20 Index also advanced, gaining 100.01 points to close at 6,463.86, up 1.57% day-on-day.