Business
Banks come to the fore as best performing sector at CSE
By Hiran H.Senewiratne
The trading activities at the Colombo Stock Exchange (CSE) started in a lackluster manner yesterday, but gained momentum by mid-day with both indices turning out to be positive towards the end of the session.
The reason for the market to pick up fast was because it was driven by the banking sector counters, stock market analysts said.
“The stock market witnessed a significant rally in the banking sector counters and in that backdrop, share prices at the banking sector counters appreciated significantly, they said.
Among listed banking sector counters Amana share price appreciated by 25 percent or 80 cents. Its share price started trading at Rs 3.20 and at the end of the day it moved up to Rs 4. Other major banks such as Commercial Bank, Sampath Bank and HNB share prices also appreciated.
Commercial Bank share price appreciated by three percent or Rs 2.80. Its share price traded at Rs 87 and at the end of the day it moved up to Rs 89.80, Sampath Bank share price appreciated by five percent or Rs 2.70. Its share price started trading at Rs 54.60 at the end of the day and moved up to Rs 57.30 and HNB share price appreciated by 4.6 percent or Rs 6.75. Its share price started trading at Rs 144 and at the end of the day it shot up to Rs 150.75.
Amid those developments both indices moved upwards. All Share Price Index up by 92.81 points and S and P SL20 up by 76.21 points. Turnover stood at Rs 4.1 billion with two crossings. Those crossings were reported in ACL Cables, which crossed one million shares to the tune of Rs 45 million and its share price traded at Rs 45 and Dialog 1.9 million shares crossed for Rs 20.5 million and its share price traded at Rs 10.80.
In the retail market top five companies that mainly contributed to the turnover were Expolanka Holdings Rs 442 million (2.3 million shares traded), Browns Investments Rs 324 million (30.2 million shares traded), Sampath Bank Rs 249 million (4.4 million shares traded), Amana Bank Rs 165 million (42 million shares traded) and Commercial Bank Rs 142 million (1.6 million shares traded). During the day 296 million share volume changed hands in 40,000 transactions.
Yesterday, Sri Lanka rupee quoted against the US dollar was Rs 200.088. It is said that the Central Bank’s intervention and imposed a maximum rate of Rs 203 for a US dollar.
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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