Business
Favourable economic signals rally retail investors to CSE
By Hiran H.Senewiratne
The positive comments made by Central Bank Governor Dr. Nandalal Weerasinghe on the national economy have resulted in improved investor sentiment especially of the retail investors of the Stock Exchange, increasing their participation in stock trading activities.
This was revealed by stock market analysts at the close of stock trading yesterday. On the previous day profit takings were noted in selected counters, especially in the banking sector, but that trend did not continue yesterday after the Central Bank Governor expressed his confidence in greater stability in the domestic economy and financial markets, analysts said.
Amid those developments both indices moved upwards. All Share Price Index up by 114.7 points and S and P SL20 up by 26.1 points. Turnover stood at Rs. three billion with three crossings.
Those crossings were reported in Sierra Cables, which crossed 2.5 million shares to the Rs 31.3 million and its share price traded at Rs 12.50, Royal Ceramic 600,000 shares crossed to the tune of Rs 20.8 million and its share price traded at Rs 34.70 and Grain Elevators 200,000 shares crossed to the tune of Rs 20.1 million and its share price traded at Rs 100.50.
In the retail market top seven companies that mainly contributed to the turnover were Capital Alliance Rs 302 million (6.5 million shares traded), Royal Ceramic Rs 203 million (5.8 million shares traded), Melstacope Rs 134 million (1.9 million shares traded), First Capital Holdings Rs 121 million (1.5 million shares traded), Hemas Holdings Rs 120.2 million (1.5 million shares traded), JKH Rs 103 million (666,000 shares traded) and Tokyo Cement Rs 101 million (1.9 million shares traded). During the day 126 million share volume changed hands in 29000 transactions.
It is said high net worth and institutional investor participation was noted in CIC Holdings, JKH and Royal Ceramics. Mixed interest was observed in Hayleys, Capital Alliance and Sunshine Holdings whilst retail interest was noted in Browns Investments, Softlogic Capital and LOLC Finance.
The Materials sector was the top contributor to the market turnover (due to CIC Holdings) whilst the sector index gained 1.90%. The share price of CIC Holdings increased by Rs. 2.10 to Rs. 70.20.
The Capital Goods sector was the second highest contributor to the market turnover (due to Hayleys and Royal Ceramics) whilst the sector index decreased by 0.73 percent . The share price of Hayleys edged down 10 cents to close at Rs. 88.80. The share price of Royal Ceramics appreciated by Rs. 1.10 to Rs. 33.10.The buying and selling rate of USD were at Rs. 302.63 and Rs. 317.09 respectively, yesterday.
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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