Business
Share market declines in the wake of ‘negative reporting’
By Hiran H.Senewiratne
CSE trading activities were negative throughout yesterday due to unfavourable reports by a foreign media organization that certain economic strategists had recommended domestic debt restructuring, which report had the effect of painting a gloomy picture of the local share market, stock market analysts said.
CSE shares slipped in mid- day trade on profit- taking because of the holiday season, apart from the media report, an analyst said. Further, investors are booking profits because of the holidays, while some are taking profits ahead of earnings reports, an analyst said.
The stock market began the fresh week on a negative note on the previous day though net foreign inflow continued to set new records. Thanks to continued buying into Expolanka Holdings by parent SG Holdings of Japan, net foreign inflow amounted to Rs. 809 million, propelling the year-to-date figure to be over Rs. 25.4 billion, a 10-year high.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 140.9 points and S and P SL20 declined by 61.2 points. Turnover stood at Rs 2.8 billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed 5.4 million shares to the tune of Rs 1.1 billion, its shares traded at Rs 210, JKH one million shares crossed to the tune of Rs 140 million, its shares trading at Rs 140, Lanka IOC 250,000 shares traded to the tune of Rs 52.5 million, its shares fetched Rs 210 and CIC Holdings 250,000 shares crossed for Rs 21.3 million, its shares fetched Rs 85.
In the retail market top seven companies that contributed to the turnover were; Lanka IOC Rs 336 million (1.6 million shares traded), Expolanka Holdings Rs 274 million (1.3 million shares traded), Browns Investments Rs 143.3 million (20.7 million shares traded), First Capital Holdings Rs 83.8 million (2.9 million shares traded), Softlogic Life Insurance Rs 74.3 million (1.2 million shares traded), CIC Holdings Rs 73.6 million (865,000 shares traded) and Softlogic Capital Rs 47.8 million (7.5 million shares traded). During the day 70.7 million shares changed hands in 15000 transactions.
It is said high net worth and institutional investor participation was noted in Expolanka Holdings, CIC Holdings and JKH. Mixed interest was observed in Lanka IOC, Richard Pieris & Company and First Capital Holdings, while retail interest was noted in Browns Investments, Softlogic Capital and LOLC Finance.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index lost 0.24 per cent. The share price of Expolanka Holdings decreased by 50 cents to close at Rs. 206.75.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC) while the sector index decreased by 5 per cent. The share price of Lanka IOC lost Rs. 12 (5.18 per cent) to close at Rs. 219.50.
Yesterday, the Central Bank- announced US dollar parity rate was Rs 371.77.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
