Business
Share market sees marked buying interest due to positive outlook on debt restructuring front
By Hiran H. Senewiratne
The stock market yesterday started off on a profit- taking stance but by the middle of the session heavy buying interests were noted among banking sector counters due to the positive status quo in the external debt restructuring exercise, market analysts said.
Consequently, the stock market recorded a new high in trading yesterday as bullish investor sentiment boosted activities, especially in the banking sector. This resulted in both indices moving up. The All Share Price Index rose by 40.35 points, while S and P SL 20 moved to 6.72 points.
Turnover stood at Rs 2.5 billion with seven crossings. Those crossings were reported in Ambeon Capital, which crossed 39.4 million shares to the tune of Rs 354 million; its shares traded at Rs 9, Hayleys 500,000 shares crossed for Rs 44.25 million; its shares traded at Rs 88.50, Lanka Aluminium 1 million shares amounting to Rs 25.50 per shares, crossed to the tune of Rs 25.50 million, NDB 300,000 shares crossed for Rs 23.1 million and its shares traded at Rs 77, Access Engineering 1 million shares crossed to the tune of Rs 23; its shares traded at Rs 23, Pan Asia Bank 903,000 shares crossed for Rs 21.1 million and its shares sold at Rs 23.30 and LOLC Holdings 50000 shares crossed for Rs 20.2 million and its shares traded at Rs 405.
In the retail market top seven companies that mainly contributed to the turnover were; Commercial Bank Rs 150 million (1.3 million shares traded), HNB Rs 90.8 million (454,000 shares traded), Sampath Bank Rs 82.4 million (1 million shares traded), Capital Alliance Rs 81.4 million (1.3 million shares traded) and Vallibel One Rs 80.8 million (1.5 million shares traded). During the day 135 million share volumes changed hands in 19200 transactions.
It is said that high net worth and institutional investor participation was noted in Sampath Bank, JKH and Hemas Holdings. Mixed interest was observed in Commercial Bank, Lanka Aluminium Industries and Lanka IOC, while retail interest was noted in Citrus Leisure rights, Browns Investments and LOLC Finance.
The Banking sector was the top contributor to the market turnover (due to Sampath Bank and Commercial Bank) while the sector index gained. The share price of Sampath Bank increased by Rs. 2.90 to reach Rs. 80.90. The share price of Commercial Bank recorded a gain of Rs. 4.75 to reach Rs. 110.
The Capital Goods sector was the second highest contributor to the market turnover (due to John Keells Holdings and Hemas Holdings) while the sector index increased by 0.28%. The share price of John Keells Holdings closed flat at Rs. 199. The share price of Hemas Holdings moved up by Rs. 2 to Rs. 83.
Yesterday the rupee opened at Rs 298.60/65 to the US dollar in the spot forex market, stronger from 298.90/299.00 on Monday, dealers said, while bond yields were down.
A bond maturing on 15.12.2026 was quoted at 11.35/40 percent from 11.35/45 percent. A bond maturing on 15.09.2027 was quoted stable at 11.85/12.00 percent. A bond maturing on 15.12.2028 was quoted at 12.05/15 percent, down from 12.10/20 percent. A bond maturing on 15.09.2029 was quoted at 12.15/30 percent from 12.20/40 percent.
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.”
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