Business
CSE retail turnover hits remarkable high of Rs. 5.04 billion
By Hiran H.Senewiratne
The CSE enjoyed its highest ever retail turnover and the highest ever number of transactions despite both indices indicating a downward trend yesterday. The reason for the market decline was selling pressure in banking and large cap counters. However, demand for low valued stocks remained bullish, stock market analysts said.
The turnover stood at Rs. 5. 04 billion with two crossings. Those crossings were reported from Pan Asia Power, which crossed 40 million shares to the tune of Rs. 180 million; its share price trading at Rs. 4 and Sierra Cables 18 million shares crossed for Rs. 75 million, its shares trading at Rs. 5. However, the All Share Price Index went down by 38.08 points and S and P SL20 declined by 25.75 points.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 864 million (49 million shares traded), RIL Properties Rs. 373 million (36.4 million shares traded), Piramal Glass Rs. 341 million (52 million shares traded), Tokyo Cement (Non Voting) Rs. 339 million (6.2 million shares traded) and Tokyo Cement (Voting) Rs. 277 million (4.3 million shares traded). During the day 582 million share volumes changed hands in 40884 transactions.
It is said that close to Rs. 5 billion came from the retail trade minus the two crossings. Due to foreign selling pressure local investors have become more active in the market. RIL Property share price moved up to Rs. 10 from Rs. 4 and the company has informed the CSE that their share price has increased unusually due to speculative trading.
Materials sector was the top contributor to the market turnover (due to Tokyo Cement Company voting and non-voting) while the sector index gained 5.30%. The share price of Tokyo Cement Company non-voting gained Rs. 5.00 (10.99%) closing at Rs. 50.50, while foreign holdings decreased by 2,231,075 shares. Further, the share price of Tokyo Cement Company moved up by Rs. 5.00 (9.03%) to close at Rs. 60.40.Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index increased by 14.37 percent. The share price of Expolanka Holdings increased by Rs. 2.10 (14.38 percent) to close at Rs. 16.70.RIL Property and Hayleys Fabric were also included among the top turnover contributors. The share price of RIL Property recorded a gain of Rs. 2.10 (29.17 percent) to close at Rs. 9.30, while the share price of Hayleys Fabric declined by Rs. 1.10 (4.47 percent) to close at Rs. 23.50.
Sri Lanka rupee quoted slightly weak at 184.20/27 to the US dollar on Tuesday while bond eased, dealers said. The rupee closed at 184.15/25 against the greenback on Monday.
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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