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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » 10% price band now only limited to 5 market days from 29 April 2011

10% price band now only limited to 5 market days from 29 April 2011

+4
milanka
jaya
MarketSIRA
Capt
8 posters

Go down  Message [Page 1 of 1]

110% price band now only limited to 5 market days from 29 April 2011 Empty Price Band Duration reduced Thu Apr 28, 2011 4:07 pm

Capt

Capt
Senior Equity Analytic
Senior Equity Analytic

http://www.adaderana.lk/news.php?nid=12976

MarketSIRA


Senior Equity Analytic
Senior Equity Analytic

DIRECTIVE UNDER SECTION 13 (c) OF THE SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA ACT NO. 36 OF 1987 (AS AMENDED)


Having reviewed the current market conditions, the Securities and Exchange Commission of Sri Lanka (SEC) at its 277th Meeting held on 27th April 2011 has decided to further reduce the period of market days to which public listed companies would be placed under the 10% price band as a consequence of being captured under the formula (designed by the Colombo Stock Exchange and confirmed by the SEC) from 10 market days to 5 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.

Therefore the Colombo Stock Exchange is hereby directed henceforth to subject public listed companies captured under the above said formula to a 10% price band for 5 market days only until further notice.

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


Very Happy Back word: SEC Bureaucrats must have been pressurized by State Big Wigs to limit price band as the market had been going down sharply.So far market performance (Year to date) is 11%

jaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Poor investors/Traders beware of foul play of big manipulators from tomorrow onwards. Don’t run behind any illiquid shares.

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

jaya wrote:Poor investors/Traders beware of foul play of big manipulators from tomorrow onwards. Don’t run behind any illiquid shares.

Manupulators could get advantage from this , so be aware...

http://forum.srilankaequity.com/u188

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

Another post with CSE notice exists here. Link below.

http://forum.srilankaequity.com/t3096-10-price-band-now-only-limited-to-5-market-days-from-29-april-2011#20726

http://forum.srilankaequity.com/u188

mark

mark
Expert
Expert

good move, because of this price band we have to contact the advisor for order execution,it's little bit messy...but now we get mess only for 5 days... Wink Wink Wink

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

SEC is relaxing regulations, probably they want to attract more investments and foreign interest to a growing market. They changed dates and postponed various regulations in the past. Can the investors expect further changes in coming weeks?

asigiriyage

asigiriyage
Manager - Equity Analytics
Manager - Equity Analytics

ShareShares wrote:SEC is relaxing regulations, probably they want to attract more investments and foreign interest to a growing market. They changed dates and postponed various regulations in the past. Can the investors expect further changes in coming weeks?

otherwise who is going to invest sample all my plans gone the other direction i wantet to get out if this prevail further but there is little sun shine will see

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

So as a principle SEC believe fraction of manipulation is needed for market to go up
lol! lol! lol!

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