Colombo shares on Tuesday brought down by speculation

Business

Colombo stocks recorded low gains amidst moderate turnover on Tuesday on the back of unsubstantiated rumours on certain companies, stockbrokers said.

For weeks now certain large companies shedding parts of their business have been doing the rounds fuelled by certain high net worth traders and their stockbrokers.

The All Share Price Index was down 249 points to close at 12,382.47 with S&P SL 20 down by 111.52 points to close at 4,165.60 on a Rs. 5.37 billion turnover.

Analysts pointed out that dollar income earning companies have shown very good results, but these shares are also being dumped by investors owing to the overall negative sentiment.

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