News Karnataka
Monday, October 03 2022
World

Colombo Stock Exchange closed amid unrest

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Colombo: Colombo Stock Exchange (CSE) on Tuesday declared a market holiday as a nationwide curfew was imposed due to the violence that ensued the previous night.

The CSE said in a statement that they had been informed that the Real Time Gross Settlement system of the central bank will not be operated on Tuesday, reports Xinhua news agency.

Thus, the Central Depository System of the CSE is unable to complete the fund settlement and the securities settlement falling on Tuesday as per the delivery versus payment settlement mechanism.

“In the circumstances, the CSE has declared Tuesday as a market holiday due to the aforesaid operational reasons,” said the CSE.

At least five people were killed and more than 200 people have been reportedly admitted to the Colombo National Hospital following the violent situation that erupted the hear of the capital city on Monday following clashes between pro and anti-government protesters.

Mahinda Rajapaksa resigned as Prime Minister on Monday as violent protests broke out.

Meanwhile, President Gotabaya Rajapaksa has has urged the opposition to form an all-party government, but the latter has refused to do so until he steps down.

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