Sri Lankan shares ended slightly weaker on Wednesday as investors offloaded telecommunications and banking stocks on thin volume as many investors and brokers stayed away ahead of holidays, dealers said. The index ended 0.2 percent, or 13.52 points, weaker at 6,913.73 on Wednesday.
"Telecom shares were down on a taxation effect impacting the counter and there is no major selling or buying ahead of the holidays," said Dimantha Mathew, research manager at First Capital Equities (Pvt) Ltd. The new government in January budget reduced mobile call rates by shifting the 25 percent tax from customers to the service provider.
The day's turnover was 394.8 million rupees ($2.97 million), well below this year's daily average of 1.13 billion rupees.
The market will be closed on April 13 and April 14 for traditional Sinhala-Tamil new year holiday.