SEC relaxes 10% price band

28 April 2011 10:54 am Views - {{hitsCtrl.values.hits}} 3 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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The Securities and Exchange Commission today relaxed the controversial 10 percent price band by reducing the period of market days to which public listed companies would be placed under the 10% price from 10 market days to 5 market days.

According to a statement by the SEC this measure was taken ‘having reviewed the current market conditions’. In the lead to the Avurudu and aftermath, the sentiments of the Colombo bourse had been damp, which eventually influenced the key indices negatively.

However the statement also that the regulator 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.

“The SEC may re-impose any conditions that have been relaxed so far if the market conditions so warrant” the regulator cautioned.

The above said directive shall be effective from 29th April 2011.

Comments - 3

lankaman Thursday, 28 April 2011 11:43 AM

The 10% price band should be totally done away with. It only helps small investors who invest by looking at company name board rather than analyzing fundamental market data

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Sri Lankan Thursday, 28 April 2011 04:29 PM

You must be a speculator and a market manipulator then!

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Roshan Friday, 29 April 2011 10:56 AM

Yes,our share market price does not actually reflect the performances of the company.

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