Sri Lankan shares ended lower for the ninth straight session on Thursday as comments from a minister earlier this week on the imposition of capital gains tax on equities continued to dampen sentiment. 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 IMF loan.
The benchmark Colombo stock index ended 0.12 percent down at 6,283.27. It has fallen 2.83 percent in the last nine sessions. Turnover stood at 449.5 million rupees ($3.09 million), much lower than this year's daily average of around 746.3 million rupees. Shares in conglomerate John Keells Holdings Plc fell 13.18 percent after a subdivision of the shares. Shares in Bukit Darah Plc fell 9.52 percent while Ceylon Tobacco Company Plc fell 0.98 percent.