Business
Speculation on corporate quarterly results dampens bourse
By Hiran H. Senewiratne
CSE trading began on a negative note yesterday due to month- end profit- takings coupled with speculation that corporate quarterly results are not going to be satisfactory. However, the plantation sector counter became attractive due to US dollar fluctuations against the rupee, market analysts said.
The market began a fresh week on a negative note ending a 15-day winning streak. But shares edged down in mid-day and continued in that negative trend until trading activities came to an end.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 24.48 points and S and P SL20 declined by 27.9 points. Turnover stood at Rs 2.5 billion without any crossings.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 363 million (2.2 million shares traded), Lanka IOC Rs 337 million (2.6 million shares traded), Kingsbury Hotel Rs 160.7 million (16.2 million shares traded), Commercial Bank Rs 92.2 million (one million shares traded), Sampath Bank Rs 83.6 million (1.1 million shares traded), NDB Rs 73.3 million (1.1 million shares traded) and Vallible One Rs 53.9 million (1.1 million shares traded). During the day 88.2 million share volumes changed hands 26000 transactions.
It is said that high net worth and institutional investor participation was noted in Cargills, Melstacorp, and Dankotuwa Porcelain. Mixed interest was observed in Lanka IOC, Aitken Spence, and CIC Holdings nonvoting, while retail interest was noted in Browns Investments, RIL Property and SMB Leasing.
The banking sector was the top contributor to the market turnover, while the sector index gained 0.56 percent. The Capital Goods sector was the second highest contributor to the market turnover (due to Aitken Spence) while the sector index decreased by 0.69 percent. The share price of Aitken Spence recorded a gain of 75 cents to reach Rs 149.75.
Cargills, Lanka IOC, Melstacorp, and CIC Holdings nonvoting were also included among the top turnover contributors. The share price of Cargills increased by Rs 25 to reach Rs 323. The share price of Lanka IOC lost Rs. 8 to touch Rs 139.75. The share price of Melstacorp moved up by 30 cents to reach Rs 76.30. The share price of CIC Holdings nonvoting declined by Rs 4.50 to reach Rs 55.10.
Yesterday, the Central Bank’s US dollar buying rate was Rs 323.03 and the selling rate Rs 336.16.
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
