Thu, 27 Jan 2022 Today's Paper

Shares end down on capital gains tax jitters

30 June 2016 11:46 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: Sri Lankan shares fell for an eighth straight session yesterday as sentiment continued to be lacklustre following a minister’s comments a day earlier on the imposition of capital gains tax on equities. Sri Lanka will impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government tries to shore up its finances to meet conditions for an International Monetary Fund (IMF) loan.

The benchmark Colombo stock index ended 0.26 percent down at 6,290.89. “Activity level was very low today after yesterday’s capital gain tax news. Investors took a much cautious stance. Investors are waiting to know about the new Central Bank governor,” said a stockbroker, asking not to be identified. “Despite the regional markets being up, the market is down on local worries.” Sri Lankan President Maithripala Sirisena yesterday said he would appoint a new Central Bank Governor within hours, a week after incumbent Arjuna Mahendran said he would not seek an extension of his term until a parliamentary committee clears his name of allegations against him.

Turnover stood at Rs.356 million, nearly half of this year’s daily average of around Rs.746.3 million. European and Asian stock markets built on a recovery from the shattering aftermath of last week’s Brexit vote as investors wagered central banks would ultimately ride to the rescue with more stimulus. Global uncertainty after Britain’s decision to leave the EU also weighed on the market with continued foreign selling.

Overseas funds offloaded Rs.6.15 billion worth of equities so far this year, but they have been net buyers of Rs.28.2 million worth of shares yesterday, recording the first net inflow in the last five sessions. Shares in CT Holdings PLC fell 3.85 percent while biggest listed lender Commercial Bank of Ceylon PLC fell 0.57 percent.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.