CSE sees high volatility

Business

The Colombo stock market witnessed high levels of volatility on Wednesday showing the uncertainty prevalent in the investor sentiment, analysts said.

It opened low and at certain times the S&P SL20 was as bad as dropping by over 2 per cent and deteriorated many times during the day. It was close to flat at certain times during the day the mixed bag of price movements clearly reflecting the volatile/conflicting/contradictory international developments, an analyst added.

The turnover at Rs. 3 billion is less than the last week's daily average.

Certain analysts said the power cuts and the possibility of a standstill stemming from the shortage of fuel are dampening the sentiment.

The All Share Price Index was down 171.2 points to close at 11, 406.34 with the S&P SL down by 76.5 points to close at 3, 860.34.

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