Business
LIOC main index driver at CSE, analysts at sea
By Hiran H.Senewiratne
The CSE shares were steady in mid -market trade yesterday after gaining for seven straight sessions, however, later it became negative due to profit takings, stock market analysts said.The main revenue generated yesterday was from LIOC being the main index driver; however analysts weren’t sure as to why interest had sparked over the share.
“Yesterday was the second day in a row where Expolanka was not active and investors are waiting for signals to bring in a positive sentiment,” analysts said.
Amid those developments both indices were negative. All Share Price Index (ASPI) was highly volatile within the first hour of trade, the market was down by 46 points while the most liquid share S&P SL20 was down by 14.1 points. Turnover stood at Rs 1.6 billion without a single crossing.
In the retail market top seven companies that mainly contributed to the turnover were Lanka IOC Rs 439 million (1.9 million shares traded), Expolanka Holdings Rs 424 million (2.1 million shares traded), Browns Investments Rs 216 million (26.8 million shares traded), CIC (Non Voting) Rs 39.9 million (628,000 shares traded),Ambeon Capital Rs 36.4 million (3.7 million shares traded), LOLC Finance Rs 30.5 million (3.8 million shares traded) and JKH Rs 26.9 million (181,000 shares traded). During the day 66.4 million share volume changed hands in 16000 share transactions.
It was said that high net worth and institutional investor participation was noted in John Keells Holdings, CIC Holdings and Lanka IOC. Mixed interest was observed in Expolanka Holdings, CIC Holdings non-voting and LOLC Holdings whilst retail interest was noted in Browns Investments, SMB Leasing nonvoting and LOLC Finance.
Foreign participation in the market activity remained at subdued levels with foreigners closing as net buyers. Food, beverage and tobacco sector was the top contributor to the market turnover (due to Browns Investments) whilst the sector index lost 1.32 percent. The share price of Browns Investments decreased by Rs. 0.40 to close at Rs. 8.00.
In the Capital Goods sector it was the second highest contributor to the market turnover (due to JKHs) whilst the sector index increased by 1.84 percent. The share price of John Keells Holdings recorded a gain of Rs. 2.50 (1.70 percent) to close at Rs. 149.25. Lanka IOC, Expolanka Holdings and LOLC Finance were also included amongst the top turnover contributors.
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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