Business
Rs. 682 million net foreign outflow from CSE for June thus far
By Hiran H.Senewiratne
The CSE has witnessed Rs. 700 million worth net foreign selling in the first eight days of June. In the past four consecutive market days, the net outflow was Rs. 678 million, while so far for June the figure is Rs. 682 million, stock market analysts said.
Despite the heightened foreign selling, the CSE still reports Rs. 678 million in net foreign buying year- to- date, down from Rs. 1.4 billion as at end May and Rs. 4.4 billion in mid-February. Last year, net foreign inflow to CSE hit a 10 year high of Rs. 30.6 billion, market analysts added.
Amid those developments the stock market was positive yesterday, due to positive attitudes to Sri Lanka from foreign creditors, including the Paris Club and Non Paris Club. Consequently, both indices moved upwards. The All- Share Price Index went up by 54.8 points and S and P SL20 rose by 35.6 points. Turnover stood at Rs 1.5 billion with four crossings. Those crossings were reported in HNB, where one million shares crossed for Rs 130 million, its shares traded at Rs 130, Sampath Bank 1.8 million shares crossed to the tune of Rs 91.8 million, its shares traded at Rs 51, JKH 250,000 shares crossed to the tune of Rs 35.4 million, its shares traded at Rs 141.50 and Access Engineering 2.1 million shares crossed for Rs 31.9 million and its shares fetched Rs 15.20.
In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 151 million (25.9 million shares traded), CIC Holdings Rs 144.2 million (2.3 million shares traded), HNB Rs 84.9 million (632,000 shares traded), Sampath Bank Rs 78.8 million (1.5 million shares traded), Softlogic Rs 58.6 million (6.4 million shares traded), Browns Investments Rs 57.2 million (10 million shares traded) and Agstar PLC Rs 44.2 million (4.1 million shares traded). During the day 116.7 million share volumes changed hands in 16000 transactions.
It is said that high net worth and institutional investor participation was noted in Vallibel Finance, Union Bank, and JKH. Mixed interest was observed in LOLC Finance, CIC Holdings and Hayleys, while retail interest was noted in Browns Investments, Softlogic Capital and Nation Lanka Finance.
Diversified Financials sector was the top contributor to the market turnover (due to LOLC Finance and Vallibel Finance) while the sector index gained 4.14 percent. The share price of LOLC Finance increased by 40 cents to Rs. 5.50. The share price of Vallibel Finance moved up by Rs. 1.60 to Rs. 32.
The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments) while the sector index increased by 1.52 percent. Yesterday, the Central Bank’s US dollar buying rate was Rs 294.91 and selling rate Rs 309.22.
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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