Business
ASPI gains over 2 per cent for the second time this week in the wake of bargain-hunting
By Hiran H.Senewiratne
The All- Share Price Index gained over 2 per cent in mid-day trade yesterday for the second time this week on bargain-hunting.According to stock market analysts, the market was overly positive but the turnover was considerably lower. On the other hand, price appreciation in blue-chip counters was noted. Significant participation was noted in especially LOLC Group and Browns Investments.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 209.9 points and S and P SL20 rose by 69.2 points. Turnover stood at Rs 1.3 billion with two crossings. Those crossings were reported in JKH, which crossed one million shares to the tune of Rs 133 million, its shares traded at Rs 133 and CIC Holdings 500,000 shares crossed to the tune of Rs 48 million, its shares fetched Rs 96.
In the retail market, top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 192 (949,000 shares traded), Expolanka Holdings Rs 152 million (912,000 shares traded), Browns Investments Rs 149 million (23.2 million shares traded), JKH Rs 35.9 million (270,000 shares traded), CIC Holdings (non- voting) Rs 34.5 million (531,000 shares traded), Colombo Fort Land Rs 33.7 million (1.3 million shares traded) and ACL Cables Rs 30.8 million (337,000 shares traded). During the day 58.8 million share volumes changed hands in 15000 share transactions.
It is said high net worth and institutional investor participation was noted in JKH, Kahawatte Plantations and R I L Property. Mixed interest was observed in Lanka IOC, Expolanka Holdings and CIC Holdings, while retail interest was noted in Industrial Asphalts, Browns Investments and LOLC Finance.
The Energy sector was the top contributor to the market turnover (due to Lanka IOC), while the sector index gained 9.05%. The share price of Lanka IOC increased by Rs. 17.75 (10 per cent) to close at Rs. 194.50.
The Capital Goods sector was the second highest contributor to the market turnover (due to JKH and ACL Cables), while the sector index increased by 0.97 per cent. The share price of JKH moved up by 75 cents (0.58 per cent) to close at Rs. 129.75. The share price of ACL Cables appreciated by Rs. 3.30 (3.86 per cent) to close at Rs. 88.80.Yesterday the Central Bank- announced dollar buying rate was Rs 360.65 and selling rate Rs 371.21.The inflation in the country remained at 73.70 per cent, which is quite high for a country.
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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