Business
ASPI hits all-time high of 8,920.71 points; market bullish
By Hiran H.Senewiratne
CSE trading activities were bullish throughout yesterday and the benchmark All share Price Index (ASPI) hit an all-time high of 8,920.71 points, surpassing the previous record of 8,812.01 points on January 27, 2021. The ASPI surged 164.08 points (or 1.87 percent) to close at 8,920.71, stock market analysts said.
It is said that the market continued its rally during the first half of trading. The ASPI crossed the 8,900 level and recorded a new all-time high of 8,938 before witnessing a pull-back due to profit-booking at higher levels. The index commenced trading and declined to an intra-day low of 8,667 following a 117 point gap-up. However, subsequently it picked up on the back of buying support extended by retail investors in Expolanka Holdings PLC, which pushed the index to surpass the 8,900 level during the session.
The day’s trading recorded a turnover of Rs.10.49 billion. Here, Expolanka (Rs.3.79 billion), Hayleys (Rs. 1.11 billion) and LOLC Holdings (Rs. 652.44 million) made significant contributions to the turnover of more than Rs. 10 billion, market analysts said. The investor battle on LOLC and Expolanka extended further with just a mere Rs. 129 million difference between the two in terms of value.
The All Share Price Index went up by 164.8 points and S and P SL20 rose by 157.47 points. Turnover stood at Rs. 10.49 billion with three crossings. Those crossings were reported in HNB (Non Voting) where 766,000 shares crossed for Rs. 96 million, its shares traded at Rs. 125, Hayleys 1,000,000 shares crossed for Rs. 93.5 million, its shares traded at Rs. 93.50 and Sanasa Development Bank 1,000,000 shares crossed for Rs. 50 million; its shares traded at Rs. 50.
In retail trading, five top companies that mainly contributed to the turnover were, Expolanka Holdings Rs. 3.79 billion (27.2 million shares traded), Hayleys PLC Rs. 1.12 billion (10.9 million shares traded), LOLC Holdings Rs. 652 million (1.2 million shares traded ), Browns Investments Rs. 570 million (74.2 million shares traded) and HNB 3.9 million shares traded. Expolanka contributed 150 points, Hayleys contributed 22.64 points and LOLC 19.73 points, were the main contributors to the All Share Price Index.
The Expolanka share price moved up by 23 percent or Rs. 27, where its price moved up to Rs. 146.75 from Rs. 122.75. Hayleys PLC shares appreciated by 18 points or Rs. 16.70, its share price increased to Rs. 109 from Rs. 92.30 and LOLC increased its share price by 4.5 percent or Rs. 22.75, its share price moved to Rs. 528 from Rs. 505 25. During the day 285 million share volumes changed hands in 63520 transactions.
It is said high net worth and institutional investor participation was noted in Sanasa Development Bank and Lanka Tiles. Mixed interest was observed in Expolanka Holdings, Hayleys and LOLC Holdings, while retail interest was noted in Commercial Leasing and Finance, Browns Investments and Lanka Orix Finance.
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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