Business
CSE recovers from steep fall, wipes off previous day’s losses
By Hiran H.Senewiratne
CSE activities recovered yesterday following the steep fall of the market on the previous day due to fears in certain sections on a Covid 19 third wave outbreak in the country, stock market analysts said.
Amid those developments, CSE in the morning was a bit sluggish and afterwards it began to recover significantly to wipe off half of the previous day’s losses. The stock market has lost Rs. 127 billion in value during the past three sessions with gains enjoyed for two weeks erased, sparking fresh investor concerns. Further, apart from continuous selling pressure there was little buying interest also in the market, stock market analysts said.
Both indices moved upwards. All Share Price Index was up by 78.33 points and S and P SL20 up by 26.96 points. Turnover stood at Rs. 2.96 billion with two crossings. A crossing was reported in HNB, which crossed 301,000 shares to the tune of Rs. 39.7 million, its share price being Rs. 132 and Nestle 25000 shares crossed for Rs. 25 million, its shares traded at Rs. 1000.
In the retail market top five companies that contributed to the turnover were, Browns Investments Rs. 455 million (72.9 million shares traded), HNB Rs. 367 million (2.8 million shares traded), Hayleys Rs. 277.5 million (3.6 million shares traded), Dipped Products Rs. 225 million (3.97 million shares traded) and LOLC Rs. 218 million (672,000 shares traded). During the day 138.8 million share volumes changed hands in 18149 transactions.
Net foreign outflow was Rs. 88.6 million as against Rs. 188 million on Monday. The year-to-date outflow was Rs. 20.7 billion.
Stock market analysts said that even though the market’s recent downward trend is disappointing, it believes that the bourse will gradually reverse course with the release of the FY2021 corporate results providing tailwind support.”Consequently, we advise investors to take advantage of the current weakness and focus on accumulating fundamentally robust high growth sectors with a long term investment horizon,”stock market analysts said.
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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