Business
Bourse’s buoyancy continues as buying interest in shares returns
By Hiran H.Senewiratne
The CSE’s buoyancy continued yesterday with buying interest returning on improved sentiment and apparent waning of concerns over new taxation. It is said that there was more than six-week low but bargain hunters returned to the market and bought beaten down heavyweight shares, stock market analysts said.Market bounced back on technical grounds after experiencing a downward trend for a few weeks, but bargain hunters came up front to purchase index- weighted stocks. However, many analysts said the market will be volatile.
Amid those developments both indices moved upwards. The All Share Price Index went up by 295 points and S and P SL20 rose by 222 points. Turnover stood at Rs 2.5 billion with three crossings. Those crossings were reported in JKH, which crossed 1.4 million shares to the tune of Rs 181 million and its shares traded at Rs 130, CIC Holdings’ 299,000 shares crossed to the tune of Rs 47.4 million, its shares traded at Rs 95 and Commercial Bank 519,000 shares crossed to the tune of Rs 26.5 million, its shares traded at Rs 51.
In the retail market top seven companies that mainly contributed to the turnover were Lanka IOC Rs 536 million (2.3 million shares traded), Expolanka Holdings Rs 252 million (1.5 million shares traded), CIC (Non -Voting) Rs 190 million (2.7 million shares traded), CIC (Voting) Rs 166 million (1.8 million shares traded), ACL Cables Rs 120 million (1.2 million shares traded), JKH Rs 56.2 million (432,000 shares traded), and Browns Investments Rs 51.6 million (7.9 million shares traded). During the day 75.7 million share volumes changed hands in 26000 transactions.
The market saw net foreign inflow of Rs 31 million on the previous day. The inflow so far this year is Rs 16.4 billion after Rs 17.8 billion of net offshore buying in the last 41 consecutive sessions amid positive sentiment over an IMF deal.
It is said that high net worth and institutional investor participation was noted in JKH, CIC Holdings (voting and non-voting) and Royal Ceramics. Mixed interest was observed in Lanka IOC, Expolanka Holdings and ACL Cables, while retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing.
Energy sector was the top contributor to the market turnover (due to Lanka IOC), while the sector index gained 0.92 per cent. The share price of Lanka IOC increased by Rs. 1.50 (0.71 per cent) to close at Rs. 213.50.
The Capital Goods sector was the second highest contributor to the market turnover (due to ACL Cables and JKH) while the sector index increased by 1.95 per cent. The share price of ACL Cables moved up by Rs. 6.70 (7.69 per cent) to close at Rs. 93.80. The share price of John Keells Holdings closed flat at Rs. 128.50.Yesterday the Central Bank- announced US dollar buying rate was Rs 359.69 and selling rate Rs 370.42.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
