Business
With the extending of CSE trading by 30 minutes, ASPI crosses 10,000 points, turnover exceeds Rs. 5 billion
By Hiran H.Senewiratne
With CSE trading activities being extended by 30 minutes yesterday, the All- Share Price Index crossed 10,000 points, while turnover exceeded the Rs 5 billion level.Stock analysts said that most retail and institutional participation in the market witnessed significant rises. The share market gained over 2.5 per cent in mid-morning with trade crossing the 10,000 points psychological benchmark, moved by banking and retail shares.
‘Last three weeks’ Treasury Bill auctions were not fully subscribed due to the fear of internal debt restructuring by the government. But that fear has now eased off and the full subscribing of Treasury Bills is now on, amounting to Rs 80 billion. This has resulted in rallying on banking sector counters in the market, analysts said.
President Ranil Wickremesinghe on Wednesday issued a gazette notification allowing casino licenses to be issued for 20-years but the operations are expected to be conducted in an orderly manner.This has resulted in an appreciation of JKH stocks, which witnessed a price appreciation of 8.6 per cent or Rs 12. Its share price stepped up to Rs 151 from Rs 139 yesterday. JKH’s US $ one billion Cinnamon Life project is expected to benefit from the issuing of the relevant licenses, analysts said. Further, the Lanka IOC share price declined due to a probable revision of fuel prices.
Amid those developments both indices moved up. The ASPI rose by 158 points and S and P SL20 hiked by 71.4 points. Turnover stood at Rs 5.3 billion with five crossings.
Those crossings were reported in Expolanka Holdings, which crossed four million shares to the tune of Rs 920 million, its shares traded at Rs 230, Sampath Bank 2.7 million shares crossed to the tune of Rs 113 million and its shares traded at Rs 42, Richard Pieris 3.3 million shares crossed to the tune of Rs 27.60, Lion Brewery 92000 shares crossed to the tune of Rs 48.3 million, while its shares traded at Rs 525 and JKH, 280,000 shares crossed to the tune of Rs 42.2 million, its shares fetched Rs 150.
In the retail market top seven companies that mainly contributed to the turnover were, JKH Rs 556 million (3.6 million shares traded), Lanka IOC Rs 401 million (1.5 million shares traded), ACL Cables Rs 296 million (3.4 million shares traded), Sampath Bank Rs 205 million (five million shares traded), Expolanka Holdings Rs 166 million (734,000 shares traded), Keells Hotels Rs 124 million (6.3 million shares traded) and CIC Holdings Rs 114 million (1.2 million shares traded). During the day 188 million share volumes changed hands in 43000 transactions.
It is said high net worth and institutional investor participation was noted in Expolanka Holdings, Royal Ceramics and JKH. Mixed interest was observed in Lanka IOC, Sampath Bank and Ceylon Hotels Corporation, while retail interest was noted in Browns Investments, Industrial Asphalts and Co-Operative Insurance Company.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings), while the sector index gained 0.55 per cent. The share price of Expolanka Holdings increased by Rs. 1.25 (0.55%) to close at Rs. 227.The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments), while the sector index increased by 0.23 per cent. The share price of Browns Investments gained 20 cents (2.60 per cent) to close at Rs. 7.90.
Lanka IOC, Sampath Bank and JKH were also included among the top turnover contributors. The share price of Sampath Bank recorded a gain of Rs. 3.50 (10.64 per cent) to close at Rs. 36.40. The share price of John Keells Holdings appreciated by Rs. 6.00 (4.51 per cent) to close at Rs. 139. Separately, Talawakelle Tea Estates announced a first interim cash dividend of Rs. 3 per share.Yesterday the US dollar spot market rate was Rs 369.38.
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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