Business
Retail investors drive surge in stocks: Softlogic share prices appreciate
By Hiran H.Senewiratne
The Colombo Stock Exchange (CSE) gathered momentum yesterday with both indices gaining. The ASPI momentarily surpassed the 12,000-point reaching the highest-ever level, thus turnover reached healthy levels although the market closed two hours before normal time in view of Christmas holidays, stock market analysts said.
The index opened on an upbeat note and rose steeply, reaching an intra-day high of 12,050, driven mainly by active retail participation. Subsequently, the index slightly edged down but remained high and upheld a strong momentum as the day closed. Turnover was led by a joint contribution of 41 percent from the energy sector and capital goods sector.
All Share Price Index gained by over 119 points or 1.16 percent and S&PSL20 index improved by 6.05 points or 0.7 percent. Market capitalization was up a whopping 80.7 percent to Rs. 5.34 trillion, the analysts said.
Since the market is fully retail-driven, its buying interest is noted in most companies. But notable buying interest triggered in the Softlogic Group of Companies.
Softlogic Holdings’ share price appreciated by 20 percent or Rs 4.20.Its share price shot up to Rs 25.50 from Rs 21.30, Softlogic Capital share price appreciated by 14 percent or Rs 1.10. Its share price moved to Rs 8.90 from Rs 7.80, Softlogic Life Insurance share price appreciated by eight percent or Rs 4.70. Its share price shot up to Rs 60 from Rs 55.30 and Softlogic Finance share price appreciated by 15 percent or Rs 1.80. Its share price moved to Rs 13.30 from Rs 11.50.
Amid those developments turnover stood at Rs 2.8 billion sans a single crossing. In the retail market top seven companies that mainly contributed to the turnover were Lanka IOC Rs 423 (5.7 million shares traded), Softlogic Capital Rs 337 million (38.9 million shares traded), Expolanka Holdings Rs 213 million (553,000 shares traded), Softlogic Holdings Rs 183 million (three million shares traded), Browns Investments Rs 139 million (7.7 million shares traded), SMB Leasing Rs 105.4 million (56.9 million shares traded), and Royal Ceramic Rs 93.4 million (1.2 million shares traded).
It is said the bourse ended in green territory following Wednesday’s gaining spree as investors regained confidence in the market while also recording a healthy turnover. Therefore, 175 million share volume changed hands in 26000 transactions yesterday.
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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