Sri Lankan shares end flat amid foreign outflows

First Capital’s Head of Research, Dimantha Mathew speaks to Reuters Mon Sep 26, 2016

COLOMBO, Sept 26 (Reuters) – Sri Lankan stocks ended steady on Monday, as gains in financial shares were offset by losses in consumer staples, amid foreign outflows and tax hike concerns.

Foreign investors sold a net 183 million rupees worth of shares on Monday extending the year-to-date net forging outflow to 3.01 billion rupees worth of equities.

The International Monetary Fund (IMF) on Friday said Sri Lanka’s government, which has failed to raise taxes as promised when it received a $1.5 billion loan from the lender in June, needs to implement a tax reform package without further delay.

reuters

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