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| Friday, 21 November 2003 |
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Bourse drops on tax levy As predicted by market analysts that the budget proposal to levy a 15% tax on profits earned from sale of shares would create a negative impact on the stock market, the Colombo Bourse indices dropped slightly yesterday with the ASPI coming down to 1,234.7 points from 1,247.3 previous day and Milanka Price Index to 2,226.9 points from 2.273.6. Stock brokers said that though the political situation in the country is easing off the 15% tax would have a negative impact on the market especially on foreign investments. Turnover for the day was Rs 200.3 million which was a healthy Rs 434.9 on the previous day. Domestic purchases for the day were Rs 165 million and foreign purchases were Rs 35 million. Large parcels of SLT, JKH, Asian Hotels, Distilleries and Nations Trust were traded yesterday. Top five gainers for the day were HDFC, Colonial MTR, Tangerine, Bata and Lanka Cement. |
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