By Hiran H.Senewiratne
Trading at the CSE was halted twice yesterday. On the first occasion, the index of liquid stocks fell 8.13 percent, triggering a 7.5 percent circuit breaker. Trading was halted for a second time at 12.18 hours, when the index fell 5.0 percent.
Initially, CSE’s benchmark All Share Index fell 6.47 percent or 500 points and there was heavy selling pressure, stock brokers said.
Stock buyers who had bought on margin or credit were also trying to cut positions. The index had been going up partly due to low interest rates amid record excess liquidity in money markets. Many investors are also sitting on capital gains after a 30 percent gain in January 2021, market sources said.