Business
Combined market value of listed companies skyrockets by Rs. 1 trillion thus far in 2021
By Hiran H.Senewiratne
CSE’s local and foreign investor participation levels yesterday were notable despite the raging COVID pandemic and associated challenges, especially the country’s current economic woes. Investor interest pushed the market to an all-time high with its gain in value reaching the Rs. 1 trillion mark so far in 2021, market analysts said.
The combined market value of listed companies has skyrocketed by Rs. 1 trillion so far this year as CSE’s market capitalization amounted to Rs. 3.97 trillion, up 34 percent year-to-date (YTD). CSE ended 2020 with a market capitalization of Rs. 2.96 trillion, stock market analysts told The Island Financial Review yesterday.
Despite all odds, the stock market was able to establish three records; i.e. the highest retail turnover in history, highest number of trades and the All Share Price Index crossing 9000 (9008.22 in the early session for the first time in history), analysts said. Amid those developments both indices moved upwards. The All Share Price Index went up by 58.81 points and the S and P SL20 rose by 28.01 points. Turnover stood at Rs. 16.5 billion with seven crossings.
Those crossings were reported in Dipped products, where 3.1 million share volumes changed hands at Rs. 202.1 million, its share price being Rs. 65, Hayleys 1.1 million shares crossed for Rs. 129 million, its share price being Rs. 120, Ambeon Holdings 1.5 million shares crossed for Rs. 73.5 million, its shares traded at Rs. 49, Browns Investments five million shares crossed for Rs.38.4 million, its shares trading at Rs. 61.30, Colombo Land Development 1.1 million shares crossed for Rs. 40 million, its shares trading at Rs. 8, Sanasa Development Bank 750,000 shares crossed for Rs. 37.4 million and HNB (Non Voting) 173,000 shares crossed for Rs. 21.6 mllion, its shares fetching Rs. 125.
In the retail market, five top companies that mainly contributed to the turnover were, Expolanka Rs. 5.05 billion (32.8 million shares traded), Browns Investments Rs. 2.8 billion (325 million shares traded), Hayleys PLC Rs. 1.5 billion (13.8 million shares traded), Dipped Products Rs. 1.4 billion (22.8 million shares traded) and LOLC Rs. 921 million (1. 5 million shares traded).
Yesterday the market rallied round Browns Group entities and those were; Browns Investments, Brown and Company and LOLC. Those companies witnessed fresh buying interest as well. Highest contributors to the All Share Price Index were, LOLC 64.2 points, Browns Investments 61.1 points and Hayleys 13. 8 points. Highest negative contributor to the All Share Index was Commercial Leasing and Finance, which contributed 62.9 negative points to the All Share Price Index. During the day 648.6 million share volumes changed hands in 78000 transactions.
It is said high net worth and institutional investor participation was noted in Lion Brewery Ceylon, Hayleys and HNB (non-voting). Mixed interest was observed in LOLC Holdings, Dipped Products and Sanasa Development Bank, while retail interest was noted in Browns Investments, Lanka Orix Finance and Expolanka Holdings.
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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