Business
Macroeconomic indicators positively impact CSE
By Hiran H.Senewiratne
CSE trading indicated some positive sentiment throughout yesterday with macroeconomic indicators having an impact, including the inflation level declining, as per the Census and Statistics Department, and the appreciation of the rupee as against the US dollar, stock market analysts said.
A late rally on banking sector stock on the previous day propelled the Colombo bourse to positive territory with improved turnover. Therefore, the turnover level and investor participation improved, analysts said.
Until the last 20 minutes of trading the CSE was continuing on a negative trend experienced in the past three sessions. A sudden spike in interest in the banking sector made the CSE come alive. Amid those developments both indices moved upwards. The All- Share Price Index went up by 119 points and S and P SL20 rose by 8.03 points.
Turnover stood at Rs 940 million with three crossings. Those crossings were reported in Piramal Glass, which crossed 2.8 million shares to the tune of Rs 57.2 million, its shares traded at Rs 20.30, Lanka IOC 200,000 shares crossed to the tune of Rs 26 million, its shares traded at Rs 130 and Windforce 1.5 million shares crossed to the tune of Rs 25 million; its shares fetched Rs 16.70.
In the retail market top seven companies that mainly contributed to the turnover were; HNB Rs 151 million (1.2 million shares traded), Lanka IOC Rs 140.6 million (one million shares traded), Expolanka Holdings Rs 76.8 million (548,000 shares traded), Ceylon Cold Stores Rs 50.9 million (1.3 million shares traded), Access Engineering Rs 27.9 million (1.9 million shares traded), Piramal Glass Rs 22 million (1.1 million shares traded) and Browns Investments Rs 21.7 million (4.2 million shares traded). During the day 42.7 million share volumes changed hands in 10000 transactions.
It is said high net worth and institutional investor participation was noted in HNB, Standard Capital and Windforce. Mixed interest was observed in Aitken Spence Hotel Holdings, Lanka IOC and Expolanka Holdings, while retail interest was noted in Industrial Asphalts, Browns Investments and SMB Leasing nonvoting.
The Banking sector was the top contributor to the market turnover (due to HNB), while the sector index gained 1.85 per cent. The share price of HNB increased by Rs. 2 to Rs. 120.
The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover, while the sector index increased by 0.41 per cent.
The rupee opened at Rs 304.10/30 against the US dollar in the spot market yesterday, dealers said, while bond yields were unchanged.
The Sri Lanka rupee closed at Rs 304.30/90 against the US dollar in the spot market on Tuesday, stronger from Rs 306.30/50 a day earlier.
A bond maturing on 01.09.2027 was quoted at 26.80/27.00 per cent unchanged from Tuesday’s close. A bond maturing on 01.05.2025 was quoted closed at 29.00/30.00 per cent, down from 29.25/30.00 per cent at last close.
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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