Bourse Dips on Tax Concerns

Stocks fell on Monday to hit a near nine-week closing low while turnover hit a more than four-month low on concerns over lack of clarifications about taxes in the 2014 Budget proposals presented last week.

The main stock index closed down 0.29%, or 17.05 points, at 5,775.67, its lowest close since 18 September.

The day’s turnover was Rs. 193.5 million ($ 1.48 million), its lowest since 17 July, and well below this year’s daily average of around Rs. 853.3 million.

President Mahinda Rajapaksa, who is also the...