Business
Price decline seen in all shares across the board; fluctuating trend sets in
By Hiran H. Senewiratne
CSE trading set off on a negative note yesterday but later bounced back slightly. The reason for the fluctuating trend was attributable to stock market brokers reducing their debt component, market analysts said.
Further, shares edged- down in mid- day trade on thin volumes as the market experienced selling pressures and profit- taking, an analyst said. “The market is down as the selling trend continues, as there is a price decline in all shares across the board, combined with the month ending, followed by margin calls, market analysts added.
Amid those developments both indices moved downward. The All- Share Price Index declined by 51 points and S and P SL20 went down by 11.87 points. Turnover stood at Rs 861 million with one crossing. The crossing was reported in NDB, which crossed 470,000 shares to the tune of Rs 20.2 million, its shares traded at Rs 43.
In the retail market some companies that mainly contributed to the turnover were, Lanka IOC Rs. 103.8 million (640,000 shares traded), Expolanka Holdings Rs 86 million (660,000 shares traded), ACL Cables Rs 83.4 million (one million shares traded), Sampath Bank Rs 76.4 million (1.3 million shares traded), Browns Investments Rs 38.8 million (6.2 million shares traded) and JKH Rs 32.9 million (235,000 shares traded). During the day 43.98 million share volumes changed hands in 12746 transactions.
It is said that high net worth and institutional investor participation was noted in NDB and Aitken Spence Hotel Holdings. Mixed interest was observed in Sri Lanka Telecom, Lanka IOC and Tokyo Cement Company nonvoting, while retail interest was noted in Browns Investments, LOLC Finance and Renuka Agri Foods.
The Food, Beverage & Tobacco sector was the top contributor to the market turnover (due to Browns Investments), while the sector index lost 0.49 per cent. The share price of Browns Investments recorded a loss of 10 cents, coming down to Rs. 6.40.
The Capital Goods sector was the second highest contributor to market turnover, while the sector index decreased by 1.77 per cent. Sri Lanka Telecom, Aitken Spence Hotel Holdings, NDB and Lanka IOC were also included among the top turnover contributors.
Meanwhile, in the Treasury bond market, yields were up at open on yesterday, dealers said.
A 01.07.2025 bond was quoted at 31.00/30 per cent yesterday, up from 30.75/31.00 per cent on Monday. A 15.09.2027 bond was quoted at 28.25/29.00 per cent, up from 28.10/60 per cent from Monday. The Sri Lanka rupee opened at 322/327 against the US dollar, steady from 322/325 a day earlier, Central Bank 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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