Business
Dull sentiment dominates share market; turnover declines to Rs. 856 million
By Hiran H.Senewiratne
CSE trading started on a positive note yesterday but subsequently shares slipped in mid- market trade. The market is on slow sentiment after the holidays and neutral sentiment prevails in the macro-economic arena, stock market analysts said.
With dull market conditions, low investor participation and low turnover level below the average level created some negative sentiment in the market. Both indices moved downwards. The All- Share Price Index went down by 41.3 points and S and P SL20 declined by 19.5 points. Turnover stood at Rs 856 million sans a single crossing during the day.
In the retail market, top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 254 million (1.2 million shares traded), Softlogic Life Insurance Rs 100.6 million (1.3 million shares traded), Expolanka Holdings Rs 94.3 million (522,000 shares traded), Sanasa Development Bank Rs 39.6 million (1.8 million shares traded), Browns Investments Rs 34 million (4.8 million shares traded), Softlogic Capital PLC Rs 23.9 million (3.5 million shares traded) and Hayleys Fabrics Rs 22.3 million (1 million shares traded). During the day 47.9 million share volumes changed hands in 11000 transactions.
It is said high net worth and institutional investor participation was noted in Cargills and Hemas Holdings. Mixed interest was observed in Lanka IOC, Softlogic Life Insurance and Expolanka Holdings while retail interest was noted in SMB Leasing non-voting, Browns Investments and Softlogic Capital.
The Food & Staples Retailing sector was the top contributor to the market turnover (due to Cargills) while the sector index edged up by 0.02 per cent. The share price of Cargills closed flat at Rs. 235.
The Capital Goods sector was the second highest contributor to the market turnover (due to Hemas Holdings), while the sector index increased by 1.10 per cent.
Yesterday, the Central Bank’s US dollar rate was recorded at Rs 365.94.
At the T-Bill auction held yesterday, Weighted Average Yield Rate for 91-day bills stood at 32.64%.
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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