Colombo Stock Exchange Plunges 521 Points Amid Fuel Shortage Concerns

The Colombo Stock Exchange experienced a significant downturn, shedding 521 points in a single trading session as uncertainty over fuel supplies gripped the market. Investors reacted to reports suggesting that Sri Lanka's fuel reserves had fallen to critically low levels, raising fears of a repeat of the 2022 economic crisis. Banking, manufacturing, and tourism stocks bore the brunt of the sell-off. Analysts warned that unless the government secured fresh fuel shipments within days, the market could face further pressure. The Central Bank of Sri Lanka issued a statement urging calm and confirming that negotiations with fuel suppliers were ongoing. The government pledged to address the shortfall within the week.