Sri Lankan stocks plummeted shortly after opening for trading on Tuesday, leading the stock market to close early for the second day in a row.
The All Share Price Index fell by 8.1 per cent while the S&P Sri Lanka 20 fell by 9.87 per cent at the close of trading.
The total turnover was just over 800 million rupees (2.35 million U.S. dollars) as investors tried to minimise losses.
Shares were expected to fall further as the country tried to overcome its economic woes.
The stock market opened for the first time on Monday since a week-long Sri Lankan New Year holiday and a subsequent five-day trading halt following the central bank’s move to hike the interest rates by 7 per cent.
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The Colombo Stock Exchange had been adversely affected by the economic woes of the country, and the index had fallen 26 per cent by the end of March compared to the end of 2021.
