📈 CSE Halts Trading & Cancels Deals Over Pricing Error

The Colombo Stock Exchange (CSE) took the rare step of halting the market and canceling all morning transactions today (07) following a significant pricing error during the debut of a newly listed company. • Market Impact: Trading was suspended at 9:53 a.m. after irregular transactions were detected in Wealth Trust Securities Limited (WTS). A massive "error trade" executed at Rs. 25,000—drastically higher than its IPO price of Rs. 7.00—distorted market turnover to a staggering Rs. 162 Bn. • Regulatory Action: In concurrence with the SEC, the CSE announced that all equity transactions conducted prior to the halt are cancelled. This was necessary as the inflated turnover artificially boosted investor buying power, threatening market order. • Sector Focus: Wealth Trust Securities, a primary dealer in the banking & finance sector, saw its IPO oversubscribed by 14.9 times last month. The company intended to list on the Diri Savi Board to strengthen its capital base for government securities trading. • Next Steps: All orders placed after 9:00 a.m. have been purged. Investors must re-enter their orders once the Order Management System (OMS) is cleared and trading resumes.