Sri Lanka inventory trade halts commerce once more as shares see large plunge

The share market in crisis-torn Sri Lanka plunged practically 13 per cent resulting in halting of commerce for the second time this month on Monday, after resuming from a two-week break.

Monday was the primary morning of commerce on the Colombo bourse following a weeklong Sri Lankan New Yr vacation and a five-day buying and selling halt after the Gotabaya Rajapaksa-led authorities raised rates of interest and defaulted on its $51 billion international debt.

The island nation is grappling with its worst financial disaster in a long time, with common blackouts and acute scarcity of necessities, together with meals and gasoline amid intensified civil protests towards the federal government.

The nation’s equities have shed practically 40 p.c of their worth since January, with the native forex falling by an analogous quantity.

The native S&P index fell seven per cent within the opening minute of commerce, greater than the 5 p.c wanted to set off an computerized half-hour halt, an AFP report mentioned.

Final week, the federal government had despatched its officers to Washington to barter with the Worldwide Financial Fund (IMF) for a bailout, however the lender was but to supply any emergency funding.

At current, Colombo is closely depending on India, China and Japan to assist hold the nation afloat.

(With company inputs)



    Comply with the newest breaking information and developments from India and around the globe with Hindustan Occasions’ newsdesk. From politics and insurance policies to the financial system and the atmosphere, from native points to nationwide occasions and international affairs, we have got you lined.

Close Story

Much less time to learn?

Attempt Quickreads

  • Beijing residents and office workers wearing face masks line up for mass coronavirus testing outside a commercial office complex at the central business district, Monday.

    Beijing begins mass testing, daily deaths dip in Europe: Global Covid updates

    In Europe, Germany and Italy witnessed a slight respite with a drop in Covid-linked fatalities as the newest udpates emerged. Germany reported six new deaths on Sunday as per knowledge shared by Reuters. In the meantime in China, as instances within the monetary hub of Shanghai fell barely amid tight curbs, Beijing kicked off mass testing for its residents in Chaoyang after 12 new instances have been reported. Listed here are prime updates on international Covid-19 scenario: 1.

  • Residents and office workers wearing masks line up for mass Covid testing near the commercial office complex in Chaoyang district, Beijing, China on Monday. (AP)

    Covid: Nervous Beijing stocks up food as 3.5mn get tested, Shanghai death toll rise

    Beijing: Beijing’slargest district, Chaoyang, on Monday kicked off three rounds of Covid-19 take a look at for all its residents amid worry of an impending Shanghai-style lockdown after dozens of infections have been reported within the final three days. Native media stories mentioned a number of markets suffered a short lived scarcity of recent greens and meat merchandise; supply apps mentioned they’d run out of inventory of things, like milk, usually accessible. Most faculties, workplaces and markets remained open on Monday.

  • Bryansk is an administrative centre 154 km (96 miles) northeast of the Ukrainian border. (Representative Image/HT File)

    Russian oil depot near Ukraine border catches fire

    A big hearth broke out early on Monday at an oil storage facility within the Russian metropolis of Bryansk, the emergencies ministry mentioned, including that nobody was injured. In an announcement, the ministry mentioned the fireplace occurred at a facility owned by oil pipeline firm Transneft at 2 a.m. Moscow time (2300 GMT), and there had been no must evacuate any elements of the town of 400,000 individuals.

  • A man walks next to a residential building damaged by a shelling, as Russia's attack on Ukraine continues, in Rubizhne, the Luhansk region, Ukraine. 

    As Ukraine war enters 3rd month, US promises fresh military aid: 10 points

    With the Ukraine conflict now in its third month, prime US officers – secretary of state Antony Blinken and defence secretary Lloyd Austin – visited the war-battered nation’s capital Kyiv as Washington assured a recent navy assist. Listed here are ten factors on the Ukraine conflict: 1. Within the first go to to the war-battered nation because the conflict began, the highest US diplomats have promised an support of 700 million {dollars}.

  • A file photo of Russian president Vladimir Putin.

    Putin eyes grabbing maximum Ukraine land after losing interest in talks: Report

    Russian president Vladimir Putin has misplaced curiosity in diplomatic efforts to finish the Ukraine conflict and appears to now be set on seizing as a lot territory as attainable, information web site Monetary Occasions reported. “Putin sincerely believes within the nonsense he hears on [Russian] tv and he desires to win massive,” an individual briefed on the talks Putin had together with his officers, advised the web site. The combating between the 2 forces has entered the third month.


Leave a Reply

Your email address will not be published.