Business
CSE turnover surpasses Rs 14 billion, ASPI records historic high
Stimulus from reserve buffers
By Hiran H.Senewiratne
Trading at the Colombo Stock Exchange (CSE) was bullish throughout yesterday due to turnover surpassed Rs 14 billion and the All Share Price Index recorded the highest ever 9,163 points in the stock market history, stock market analysts said. During the day both indices moved upwards. All Share Price Index up by 160.5 points and S and P SL20 up by 75.9 points. Main contributing factor to reach All Share Price to the historic highest level and the turnover to touch Rs 14.65 billion due to the significant improvement in the investor sentiment as Sri Lanka was able to secure US$ 1.3 billion worth of foreign reserves that received from a Special Drawing Rights (SDR) allocation of International Monetary Fund (IMF), a disbursement under the Currency Swap Arrangement with the Bangladesh Bank and another loan from Chinese Development Bank.The bourse appeared challenging as Expolanka Holdings on the previous day dislodged LOLC Holdings yet again to reclaim the most valued status, stock market analysts said.
Expolanka and Browns Investments were the main contributors yesterday for the All Share Price Index. Those two companies’ share prices were also appreciated. Expolanka Holdings share price increased from Rs 167.75 to Rs 181, which was Rs 13.25 or eight percent increased and Browns Investments share price appreciated from Rs 10.40 to Rs 11.50, which was 11 percent or Rs 1.10 appreciation.
Turnover stood at Rs 14.6 billion with five crossings. Those crossings were reported in HNB where five million shares crossed for Rs 675 million and its share price traded at Rs 135, Royal Ceramic 2.8 million shares crossed for Rs 112.8 million and its share price traded at Rs 41, HNB (Non Voting) 837,000 shares crossed for Rs 104.6 million and its share price traded at Rs 125, Sampath Bank one million shares crossed for Rs 51.5 million and its share price traded at Rs 51.50 and Commercial Bank 500,000 shares crossed for Rs 42.75 million and its share price traded at Rs 85.50.
In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs 4.7 billion (26 million shares traded), Browns Investments Rs 2.9 billion (257 million shares traded), Hayleys Rs 996 million (8.4 million shares traded), LOLC Rs 674 million (1.1 million shares traded), Royal Ceramic Rs 670 million (15.2 million shares traded). During the day 484 million share volume changed hands in 66740 transactions.Since early last week investors have ignited a battle between Expolanka and LOLC for the number one position, with each holding a forte for a day only. Analysts claimed Expolanka remains solid and on demand given the large volumes traded since early last week. It retaining the most valued status for a second day running today would prove this view. Others believe Expolanka is now overpriced. Nevertheless, the stock market, which is on an all-time high, has developed a craving for companies with strong dollar earnings and both Expolanka and LOLC, as well as Hayleys and several Group companies are being sought after for the same reason.
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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