Price band for only in five days

The Securities and Exchange Commission of Sri Lanka (SEC) at its 277th meeting held on Wednesday has decided to further reduce the period of market days to which public listed companies would be placed under the 10 percent price band as a consequence of being captured under the formula from 10 market days to five market days.

The SEC will continue to closely monitor market conduct, especially in relation to the price volatility in the market and will consider further relaxations if deemed fit. However the SEC may re-impose any conditions that have been relaxed so far if the market conditions so warrant, a SEC press release said.

Therefore the Colombo Stock Exchange is hereby directed henceforth to subject public listed companies captured under the aforesaid formula to a 10 percent price band for five market days only until further notice. The said directive will be effective today.