Business
CSE witnesses fresh buying interest despite economic woes
by Hiran H.Senewiratne
Share trading activities at the Colombo Stock Exchange (CSE) were positive in the beginning of the session yesterday and selling pressure was reported in the latter part of the day while the market witnessed fresh buying interest also, analysts said.
However, the market bounced bank yesterday in contrast to the previous day which suffered one of its steepest falls with Rs. 146 billion in value wiped off as investors resorted to panic selling whilst the more optimistic questioned their motive, stock market analysts said.
Further, net foreign selling increased on the previews day to Rs. 697 million, pushing the year to date outflow to over Rs. 42 billion to Rs. 42.5 billion. Recent biggest gainers were obvious contributors to the previous day’s fall. With the bounce bank, market was up by 2.13 percent and fresh buying interest was witnessed despite the political and economic woes.
However, those top contributing companies that mainly contributed to the All Share Price Index were Expolanka (38.3 points), LOLC (17.8 points) and Commercial Leasing (10 points).
Amid those developments both indices were up. All Share Price Index was up by 180 points and S and P SL20 up by 51.3 points. Turnover stood at Rs 3.5 billion with two crossings. The two crossings were reported in Nestle Lanka 100,000 shares crossed to the tune of Rs 120 million and its share price traded at Rs 1200 and Hemas Holdings 281,000 shares crossed for Rs 20.2 million and its share price traded at Rs 72.
In the retail market top five companies that mainly contributed to the turnover were Expolank Holdings Rs 1.59 billion (10.3 million shares traded), Browns Investments Rs 541 million (60.2 million shares traded), LOLC Rs 124 million (242,000 shares traded), HNB (Non Voting) Rs 116 million (898,000 shares traded) and TJ Lanka Rs 75 million (1.8 million shares traded). During the day 148 million share volume changed hands in 25000 transactions.
It is said high net worth and institutional investor participation was noted in Hayleys and Hemas Holdings. Mixed interest was observed in LOLC Holdings, Royal Ceramics and Teejay Lanka whilst retail interest was noted in Browns Investments, Industrial Asphalts 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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