Business
Day of fluctuating fortunes at CSE but both indices rise
By Hiran H.Senewiratne
In a day of fluctuating fortunes, at the beginning of operations yesterday the stock market was positive, by mid-day it turned negative but later recovered, stock market analysts said.In the international arena, the European Union Central Bank is likely to do an interest rate hike soon. Besides, the high temperature levels experienced by most European countries due to climate change will likely impact global stock markets, market analysts added.
Amid those developments both indices moved upwards. The All-Share Price Index went up by 24.3 points and S and P SL20 rose by 8.87 points. Turnover stood at Rs 1.29 billion with a single crossing. The crossing took place in JKH, which crossed 1.1 million shares to the tune of Rs 128.5 million, its shares traded at Rs 120.
In the retail market top event companies that mainly contributed to the turnover were; Browns Investments Rs 255.6 million (31.4 million shares traded), Lanka IOC Rs 152.7 million (1.9 million shares traded), Expolanka Holdings Rs 119 million (654,000 shares traded), Sunshine Holdings Rs 56 million (1.7 million shares traded), Softlogic Holdings Rs 50.5 million (791,000 shares traded), Hayleys Rs 46.1 million (634,000 shares traded) and JKH Rs 44 million (364,000 shares traded). During the day 71.1 million share volumes changed hands in 15713 transactions.
It is said that high net worth and institutional investor participation was noted in John Keells Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and Hayleys, while retail interest was noted in Browns Investments, SMB Leasing non-voting and Kotagala Plantations.
The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Melstacorp and Browns Investments), while the sector index gained. A share price increase was witnessed in Sunshine Holdings, whose shares appreciated by 11.5 per cent or Rs 3.50. Its share price shot up to Rs 34 from Rs 30.50.
The Capital Goods sector was the second highest contributor to the market turnover (due to JKH).Expolanka Holdings and Lanka IOC were also included among the top turnover contributors. The share price of Expolanka Holdings recorded a gain of 25 cents to close at Rs. 180.25. The share price of Lanka IOC appreciated by 70 cents to close at Rs. 77.80.
Yesterday, the Central Bank- announced US dollar buying rate was Rs 358.31 and selling rate Rs 368.91. Sri Lanka needs to accelerate fiscal reforms to bring back economic stability, and a stable government to carry them out, the Central Bank Executive Officers’ Union has warned.
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
