Colombo shares drop on low sentiment

Business

Colombo stocks recorded marginal losses for the third consecutive day on Thursday which analysts described as a dent in retailer sentiment that started with deceptive endorsements by high net-worth investors early this week.

Dollar earning company, Expolanka was at their mercy with many sell recommendations floating on social media during the past three days, on the eve of the company releasing its third quarter results tomorrow (Friday).

On a Rs. 7.5 billion turnover, the ASPI was down 180 points to close at 12,885.70 and the S&P dropped by 78.16 points to close at 4,400.18.

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