Business
Sampath Bank contributes 45 percent to CSE turnover in day marked by profit-takings
By Hiran H.Senewiratne
The CSE edged- down in mid-day trade due to profit takings yesterday but during the latter part of the day the market recovered, an analyst said. Sampath Bank played an important role by contributing more than 45 percent to the day’s turnover.
The reason for Sampath Bank stocks to perform well was their lower foreign exposure. Local investors preferred to purchase those stocks. On the previous day as well Sampath’s contribution to the turnover was 56 percent, market analysts said.
Amid those developments both indices moved downwards. The main All Share Price Index was down 37.97 points and the most liquid index S&P SL20 was down by 2.86 points. Turnover stood at Rs 1.88 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 8.9 million shares to the tune of Rs 498 million; its shares traded at Rs 56, while 2.05 million shares belonging to JKH crossed to the tune of Rs 291 million; its shares traded at Rs 142 and Expack Corrugated Cartons 1.6 million shares crossed for Rs 22.9 million; its shares fetched Rs 14.60.
In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 3245 million (6.2 million shares traded), JKH Rs 75.2 million (530,000 shares traded), Access Engineering Rs 57 million (3.6 million shares traded), Ceylon Hospitals (Durdans) Rs 49.5 million (450,000 shares traded), PFP Glass Rs 46 million (2.1 million shares traded), SLT Rs 34.5 million (384,000 shares traded) and HNB Rs 33.7 million (247 million shares traded). During the day 55.4 million share volumes changed hands in 11150 transactions.
It is said that mixed interest was observed in HNB, First Capital Treasuries and Hayleys, while retail interest was noted in LOLC Finance, Tess Agro and Browns Investments.
The Banking sector was the top contributor to the market turnover (due to Sampath Bank, HNB and Commercial Bank), while the sector index gained 1.74 percent. The share price of Sampath Bank increased by Rs. 1.90 (3.58%) to Rs. 54.90. The share price of HNB moved up by Rs. 1.75 to Rs. 137. The share price of Commercial Bank appreciated by Rs. 1.30 to Rs. 66.30.
The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Distilleries), while the sector index edged down by 0.04 percent. The share price of Distilleries gained 10 cents to Rs. 22.20.
Yesterday, the rupee opened at Rs 307.00/312.00 to the US dollar, dealers said, while bond and T-bill yields were down. The Spot US dollar closed at Rs 307.00/310.00 on Thursday after interventions around Rs 314 to the US dollar, market participants said.
After heavy dollar purchases by the Central Bank in recent weeks, a mismatch was seen for imports. Mismatches generally end up in large import bills like oil. Unless there are two way interventions, timing differences in inflows and outflows cannot be matched, analysts say.
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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