Sri Lanka to bring 14 previously untaxed sectors into direct taxation network: Minister of State

ECONOMYNEXT – The Colombo Stock Exchange was closed on Tuesday, according to data on its website.

The broader All Share index closed down 0.48 per cent, or 56.63 points, at 11,785, while the more liquid S&P SL20 index closed down 0.90 per cent, or 31.37 points, at 3,437.

Turnover was low at 483 million.

The large amount came from a local transaction on John Keells Holdings Plc (Rs 90 million) and the share price closed at 200.00.

“The index fell for another day,” said Softlogic Stockbrokers. “Investors were inactive and trading volume remained among the lowest this year.”

“The broader view is that the index rose a few weeks ago because positive factors were factored in before they materialized, and this could be a correction or consolidation.”

Bank counters continued to close with Commercial Bank of Ceylon Plc closing at 101.75, Sampath Bank Plc closing at 76.30 and Hatton National Bank Plc down at 195.00.

The plantation sector also saw some stocks decline. Kotagala Plantations Plc closed at 5.70, Elpitiya Plantations Plc closed at 99.70, Talawakelle Tea Estates Plc closed at 134.50 and Maskeliya Plantations Plc closed at 30.30

Minister for Infrastructure Development Jeevan Thondaman criticised plantation companies in Parliament today.

In sectoral terms, sales of household appliances fell by 3.3 per cent, banks by 0.9 per cent, capital goods by 0.9 per cent, consumer services by 0.8 per cent and telecommunications by 0.7 per cent.

The largest contributors to the index were Lion Brewery (Ceylon) Plc (up 1,097.75), Industrial Asphalts (Ceylon) Plc
(up 0.40) and Asiri Hospital Holdings Plc (up 24.80).

The foreign share also remained low. Net foreign inflow stood at 2.6 million. (Colombo/Jul9/2024)