Sri Lanka stock market shuts as index falls nearly 6%, Lankan central bank Governor resigns

New Delhi: Trading at Sri Lanka's stock exchange was was halted on Monday when the blue chip index dropped 5.92 percent within seconds of its opening. 

The the blue chip index dropped 5.92 percent, triggering a circuit breaker that halts trading for half an hour, the Colombo Stock Exchange said.

The stock market frenzy was due to the mass cabinet resignation in the face of an economic crisis. Meanwhile Sri Lankan central bank governor Ajith Nivard Cabraal said on Monday he submitted his resignation in the context of all cabinet ministers resigning. 

Cabraal announced his resignation in a Twitter post. 

In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa. @GotabayaR #SriLanka #GoSL

— Ajith Nivard Cabraal (@an_cabraal) April 4, 2022

Sri Lanka`s president on Monday invited all political parties represented in parliament to accept ministerial portfolios to help find a way out of the country`s worst economic crisis in decades, his office said in a statement. "President Gotabaya Rajapaksa invited all political parties to come together to find solutions to the ongoing national crisis," the statement said.

"Considering this a national need, the time has come to work together for the sake of all the citizens and future generations," it added.

With Reuters Inputs