Business
Lockdown extension has investors worried; both indices dip
By Hiran H.Senewiratne
Trading activities of the CSE indicated a bullish sentiment during the morning session yesterday. Later market turnover turned negative due to profit takings and investors became worried that extending the lockdown period by the government will further weaken the overall economy, market analysts said.
The Colombo stock market’s relentless bull-run persisted with more velocity on the previous day with turnover topping Rs. 10 billion for the sixth consecutive day with sharp gains in indices. But yesterday the CSE was able to surpass the Rs. 9 billion turnover mark despite both indices moving downwards. All Share Price Index went down by 19.33 points and the S and P SL20 declined by 3.84 points.
Turnover stood at Rs 9.38 billion with seven crossings. Those crossings were reported in Hayleys where one million shares crossed to the tune of Rs. 120 million, its shares traded at Rs. 120, Sampath Bank two million shares crossed for Rs. 102.5 million, its shares traded at Rs 50.50, HNB 500,000 shares crossed for Rs. 67.5 million, its shares fetched Rs. 135, HNB (Non Voting) 500,000 shares crossed for Rs 64 million, its shares trading at Rs 128, Melstacorp 500,000 shares crossed for Rs. 28.3 million, its shares traded at Rs. 56.50, Softlogic Holdings 1.8 million shares crossed for Rs 24.3 million and its shares traded at Rs. 13.50 while ACL Cables 500,000 shares crossed for Rs 24 million, its shares fetching Rs. 48 and Asiri Hospital Holdings PLC 650,000 shares crossed for Rs. 21.45 million with a share being traded at Rs. 33.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 1.74 billion (9.3 million shares traded), Hemas Holdings Rs. 1.5 billion (21.1 million shares traded), Browns Investments Rs. 1.25 billion (109 million shares traded), Vallibel One Rs. 380 million (5.5 million shares traded) and Hayleys Rs. 342 million (2.8 million shares traded). During the day 689 million share volumes changed hands in 56000 transactions.
It is said high net worth and institutional investor participation was noted in Hatton National Bank, Hayleys and Windforce. Mixed interest was observed in Expolanka Holdings, Vallibel One and Royal Ceramics, while retail interest was noted in Browns Investments, Sierra Cables and many other investor sought after stocks.
The ASPI continued surging to record high levels, led by a range of large-cap stocks which witnessed sharp gains during last session/s, while the more liquid S&P SL20 index closed above the 3,500 level for the first time since January 29.
“In line with the ongoing buoyant momentum market breadth remained positive with price gainers outnumbering decliners by a wide margin of 137 to 54 while turnover remained robust exceeding Rs. 10 billion for the sixth consecutive session on the previous day, market sources said.
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
