Sri Lanka shares snapped three sessions of losses and settled more than 1% higher on Monday, amid growing protests in the island nation as the country faces its worst financial crisis in decades.
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The CSE All-Share index closed up 1.2% at 7,516.63. On Friday, the index logged its fourth straight weekly loss, falling 2.6%.
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Supporters of Sri Lanka’s ruling party stormed a major protest site in the country’s commercial capital Colombo on Monday, attacking anti-government demonstrators and clashing with police who used tear gas and water cannon to drive them back.
Sri Lanka shares end lower as industrial, financials weigh
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Thousands of shops, schools and businesses closed on Friday as public and private sector workers in Sri Lanka went on strike, demanding that the country’s president stepped down.
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The World Bank has promised financial aid to help the island nation overcome its economic crisis. Sri Lanka has also appealed to multiple countries and multilateral organisations for bridge financing until it gets aid from the International Monetary Fund.
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The equity market turnover was 981.3 million Sri Lankan rupees ($2.73 million).
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Trading volume rose to 47.7 million shares from 40.8 million shares in the previous session.
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Foreign investors were net sellers in the equity market, selling shares worth 17 million rupees, while domestic investors were net buyers, picking up 971.4 million rupees worth of shares, exchange data showed.
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