Business
Panic-selling at CSE results in indices losing 2 per cent but YTD net foreign inflow crosses Rs. 4 billion
By Hiran H. Senewiratne
The year to date (YTD) net foreign inflow at the CSE crossed the Rs. 4 billion mark on Tuesday but locals remained bearish yesterday and an element of panic selling resulted in indices losing nearly 2 per cent.
Foreigners were responsible for net buying of Rs. 468.3 million, boosting the inflow so far in February to Rs. 3.6 billion and YTD figure to Rs. 4 billion.
The All- Share Price Index fell by 10.3 points, while the most liquid share S&P SL20 was up by 15.2 points. Turnover stood at Rs 1.87 billion with four crossings. The crossing were reported in Expolanka Holdings, which crossed 1.98 million shares to the tune of Rs 337 million and its shares traded at Rs 170, Dipped Products 2.9 million shares crossed to the tune of Rs 80.9 million, its share price was stranded at Rs 27, Lanka IOC 115,000 shares crossed for Rs 20.5 million and its shares traded at Rs 178 and Asia Hotel Properties 500,000 shares crossed to the tune of Rs 20 million, its shares fetched Rs 40.
In te retail market top seven companies that mainly contributed to the turnover were; Softlogic Capital PLC Rs 332 million (32.2 million shares traded), Softlogic Life Insurance Rs 279 million (2.9 million shares traded), Expolanka Holdings Rs 129 million (744,000 shares traded), JKH Rs 105 million (755,000 shares traded), Lanka IOC Rs 60.8 million (339,000 shares traded), Browns Investments Rs 52.4 million (9.4 million shares traded) and First Capital Holdings Rs 37.4 million (1.18 million shares traded). During the day 82.2 million share volumes changed hands in 16000 transactions.
“The market started positive but sentiments have been pushed down by the IMF and news on delays on the local government elections, an analyst said.
It is said high net worth and institutional investor participation was noted in Nations Trust Bank, Lanka IOC and JKH. Mixed interest was observed in Softlogic Life Insurance, Aitken Spence and ACL Cables, while retail interest was noted in Softlogic Capital, Industrial Asphalts and Browns Investments.
The Capital Goods sector was the top contributor to the market turnover (due to JKH, Aitken Spence and ACL Cables), while the sector index lost 1.16 per cent. The share price of JKH decreased by one rupee to Rs. 140. The share price of Aitken Spence closed flat at Rs. 150. The share price of ACL Cables declined by Rs. 1.40 to Rs. 69.10.
The Insurance sector was the second highest contributor to the market turnover (due to Softlogic Life Insurance), while the sector index decreased by 4.78%. The share price of Softlogic Life Insurance lost Rs. 25.50 (19.84 per cent) to Rs. 103. Softlogic Capital was also included among the top turnover contributors.
Yesterday the Central Bank’s US dollar buying rate was Rs 359.60 and selling rate Rs 369.88.
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
