Business
Price appreciations in blue chip shares boost bourse performance
By Hiran .Senewiratne
The CSE commenced on a negative note yesterday but later on the market recovered due to notable price appreciations in blue-chip companies, stock market analysts said.
It is said that Rs. 272 billion in value has been wiped off since last week and Rs. 349 billion since January as investors turn bearish due to several macro environment factors in and out of Sri Lanka, market analysts added.
In the previous day’s fall, the ASPI reported a negative return of 1.18 per cent year to date, while S&P SL20 moved further down with a negative 4.27 per cent. ASPI at one point dipped below the psychological 12,000-point mark but recovered to a positive level yesterday, stock market analysts said.
The All -Share Price Index went up by 125 points and S and P SL20 rose by 65 points. Turnover stood at Rs 3.5 billion sans a single crossing.
In the retail market, the top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 498 million (1.6 million shares traded), Browns Investments Rs 248 million (17.5 million shares traded), Vallibel One Rs 209 million (2.7 million shares traded), Softlogic Life Insurance Rs 208 million (1.3 million shares traded), LOLC Holdings Rs 169 million (158,000 shares traded), Sunshine Holdings Rs 152 million (3.1 million shares traded) and ACL Cables Rs 134 million (1.3 million shares traded). During the day 130 million share volumes changed hands in 40000 transactions.
The market recovered a few points from the intraday low yet closed lower at 12,082, losing 301 points. LOLC, Hayleys and Expolanka were the major contributors in dragging the index down. Turnover was led by a joint contribution of 55 per cent from Capital Goods, Diversified Financials and Insurance sectors yesterday. It is said high net worth and institutional investor participation was noted in Teejay Lanka, Softlogic Holdings and Dipped Products.
Mixed interest was observed in Expolanka , Softlogic Life Insurance and LOLC Finance while retail interest was noted in SMB Leasing non-voting, Browns Investments and Softlogic Capital.
Yesterday, the US dollar rate was quoted at Rs 202.24, which was the controlled price of the Central Bank. The actual market price would be more than Rs 250, financial 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.”
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