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Sri Lanka Equity Forum » Stock Market Talk » New Tax Reform Bill to impose a stock trading tax? - Reuters

New Tax Reform Bill to impose a stock trading tax? - Reuters

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DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Shares mark four month closing low in thin trade

Reuters: Shares fell for a fifth session on Thursday, posting their lowest close in four months, as local investor sentiment was subdued following a string of disappointing June-quarter corporate results.

However, the decline was limited as foreign investors bought into equities.

The Colombo stock index fell 0.14%, or 9.29 points, to 6,408.12, its lowest close since 18 April. The Bourse has fallen 3.9% since 27 July and slid in 14 out of 15 sessions due to a fall in June-quarter profit and speculation that the new tax reform bill will impose a tax on trading stocks.

However, State Finance Minister Eran Wickramaratne on Thursday said the concerns on the tax will be addressed.

“The market somewhat recovered and still we see investors buying stocks which have value,” said Hussain Gani, deputy CEO at Softlogic Stockbrokers.

Foreign investors bought shares worth a net Rs. 13.6 million ($ 88,744) on Thursday, extending the year-to-date net inflow to Rs. 27.7 billion.

Turnover was Rs. 334.9 million, less than half of this year’s daily average of around Rs. 871.7 million.

Teller

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Moderator
Most of the companies profitability down YOY and QOQ

Ran49


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Teller always in negative side... why bro....

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