Business
Profit stance by blue-chips pushes CSE to negative territory
By Hiran H.Senewiratne
The profit-taking stance of mainly blue chip companies, including banks and JKH, witnessed yesterday, pushed the CSE to negative territory, market analysts said.
However, despite all odds net foreign inflow year to date crossed the Rs. 6 billion mark as investor sentiment in the stock market remained healthy, market analysts said. The market saw net foreign buying of Rs. 656.5 million boosting the year to day figure to Rs. 6.32 billion.
Amid those developments both indices moved downwards. All -Share Price Index went down by 92.25 points and S and P SL20 went down by 20.6 points. Turnover stood at Rs 1.96 billion with two crossings.
Those crossings were reported in Melstacope, which crossed 2 million shares to the tune of Rs 173.5 million, its shares traded at Rs 85 and NTB 382,000 shares crossed to the tune of Rs 42 million; its shares traded at Rs 110.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 207 million (1 million shares traded), NTB Rs 124 million (1.1 million shares traded), Softlogic Capital Rs 119 million (10.3 million shares traded), Hayleys Fabrics Rs 104 million (2.6 million shares traded), DFCC Rs 69.1 million (812,000 shares traded), NDB Rs 54.3 million (689,000 shares traded) and Melstacope Rs 49.5 million (581,000 shares traded). During the day 72.8 million share volume changed hands in 20000 transactions.
It is said that high net worth and institutional investor participation was noted in John Keells Holdings, Richard Pieris & Company and Hemas Holdings. Mixed interest was observed in Commercial Bank, National Development Bank and CIC Holdings nonvoting, while retail interest was noted in Pan Asia Banking Corporation, Browns Investments, and SMB Leasing nonvoting.
The Capital Goods sector was the top contributor to the market turnover (due to JKH and Richard Pieris & Company) while the sector index gained 1.37 percent.
The share price of JKH increased by Rs. 3.75 to Rs. 199.50. The share price of Richard Pieris & Company gained 40 cents to close at Rs. 24.40.
The Banking sector was the second highest contributor to the market turnover (due to Commercial Bank and NDB), while the sector index increased by 0.33 percent. The share price of Commercial Bank moved up by Rs. 1.50 to Rs. 105. The share price of National Development Bank recorded a gain of Rs. 1.10 to register Rs. 82.90.
Yesterday the Central Bank announced the US dollar buying rate as Rs 314.94 and selling rate Rs 327.52.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
