Business
CSE hits Rs. 23 billion record turnover; Browns Investments transactions account for 73 per cent
By Hiran H.Senewiratne
The CSE recorded its highest ever turnover yesterday amounting to more than Rs. 23 billion, with crossings and retail tradings in Brown Investments shares contributing approximately 73 percent to the turnover. Companies belonging to Ishara Nanayakkara, namely Oxford Capital Pvt Limited and Churchill Capital Pvt Limited sold their shares in Browns Investments to Brown and Company, stock market analysts said.
It is said that Oxford Capital held 1.1 billion and Churchill Capital 985 million of Browns Investments shares and together they sold 2.6 billion shares to the tune of Rs. 16.85 billion, with each share being traded at Rs. 5.40. With the crossings Brown and Company which held a 46.06 percent stake in Browns Investments increased its shareholding to 60.64 percent, stock analysts said.
Amid those developments, in the early session of the day the CSE witnessed some selling pressure. However with the Browns Investments crossings or internal transactions, the market became normal, but both indices indicated a downward trend. All Share Price Index went down by 101 points and S and P SL20 went down by 77.57 points. Turnover stood at Rs. 23.75 billion with the crossing in Browns Investments.
In the retail market top five companies that mainly contributed to the turnover were, LOLC Holdings Rs. 1.37 billion (2.6 million shares traded), Sampath Bank Rs. 590 million (2.94 million shares traded), Expolanka Rs. 515.5 million (9.8 million shares traded), Browns Investments Rs. 514 million (76.4 million shares traded) and Vallibel One Rs. 513 million (6.2 million shares traded). During the day 86 billion share volumes changed hands in 42246 transactions.
In terms of volume of shares and number of trades, the performance in January was unprecedented. Over 10 billion shares changed hands via 960,300 trades. In comparison just 84 million shares in January last year and 163 million in 2019. The number of trades in January of 2020 and 2019 were 19,790 and 22,854 respectively.
CSE saw rapid net foreign selling though analysts opined they can’t be blamed as they are making rightful capital gains exiting when the market was on the rise. This was evident by the fact that Sampath Bank, which rose on the share sub division move, saw Rs. 1.9 billion in net selling. JKH saw Rs. 891 million worth of exits.
Friday’s net foreign selling was Rs. 2.3 billion, highest in nine months and took the year to date figure to Rs. 8.5 billion. Foreign investors sold Rs. 4.57 billion net last week as opposed to Rs. 2.36 billion a week earlier.
Sri Lanka rupee quoted stronger at 191/192 levels in the spot market yesterday, while bond yields were flat in dull market trade, dealers said. The rupee closed around 191.25/192 to the US dollar on Friday.
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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