The Securities and Exchange Commission of Sri Lanka (SEC) held a special meeting today (11) to assess the current situation in the stock market and determine what regulatory relief and assistance was needed to manage it.
Mr. Viraj Dayaratne, PC, Chairman, SEC, Mr. Chinthaka Mendis, Director General, SEC along with Commissioners Mr. Manil Jayesinghe, Mr. H. A. Karunaratne, Mr. Priyantha Ratnayake, Mr. Naresh Abeysekera and Mr. Rajeeva Bandaranaike, Chief Executive Officer, Colombo Stock Exchange (CSE) participated at this meeting.
The panic triggered by the escalation of the Covid-19 outbreak has resulted in a global stock market downturn.
After the said meeting, the Chairman, the Director General, and other senior officials of the SEC held discussions with the Chief Executive Officers (CEOs) of stockbroker firms to obtain their views with regard to the present situation in the stock market and requested them to forward their suggestions to the SEC promptly.
The CEOs of Stockbroker firms expressed optimism that theCSE would bounce back strongly since the downturn was due to a global phenomenon. They also expressed the view that there is scope for investors in the Sri Lankan market due to the attractive valuation our market offers.