Business
Uncertainties triggered by protests take a toll on CSE investor sentiment
By Hiran H. Senewiratne
CSE trading activities were negative and volatile throughout yesterday and mid-day shares edged down, as investors await more macroeconomic cues on decisions for a finalized IMF agreement, an analyst said.Investors are sticking on the sidelines, due to mass protests against the government’s tax policies which have created some uncertainties and blunted investor sentiment. Due to these uncertainties the Treasury Bill auction was not oversubscribed the previous day, the analyst added.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 25 points and S and P SL20 went down by 12 points. Turnover stood at Rs 1.2 billion with three crossings.
Those crossings were reported in JKH, whose 731,000 shares crossed to the tune of Rs 105 million, its shares traded at Rs 144.25, Sigiriya Village 886,000 shares crossed for Rs 55.8 million, its shares fetched Rs 63 and JAT Holdings 3.7 million shares crossed to the tune of Rs 58.9 million, its shares traded at Rs 14.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 202 million (1.4 million shares traded), Expolanka Holdings Rs 101.9 million (549,000 shares traded), TJ Lanka Rs 77.2 million (two million shares traded), Softlogic Life Insurance Rs 73 million (584,0000 shares traded), Softlogic Capital Rs 37.9 million (2.3 million shares traded), Asia Hotel Properties Rs 36.3 million (1 million shares traded) and Capital Alliance Rs 36.2 million (1.3 million shares traded). During the day 44.6 million share volumes changed hands in 11000 share transactions.
However, shortly the market picked up on a steady uptrend as Banking and Diversified Financials sector counters rallied following the President’s speech. Although the index crossed the 9,000-level by mid-day, it failed to sustain the positive momentum.
It is said high net worth and institutional investor participation was noted in Teejay Lanka and JKH. Mixed interest was observed in Tokyo Cement Company non-voting, Softlogic Life Insurance and Expolanka Holdings, while retail interest was noted in Browns Investments, LOLC Finance and Softlogic Capital.
The Capital Goods sector was the top contributor to the market turnover (due to John Keells Holdings), while the sector index lost 0.31%. The share price of JKH decreased by Rs. 1.50 to Rs. 144.
The Materials sector was the second highest contributor to the market turnover (due to Tokyo Cement Company non-voting), while the sector index decreased by 0.75 per cent. The share price of Tokyo Cement Company non-voting lost Rs. 1.10 (3.24 per cent) to Rs. 32.90.Yesterday, the Central Bank’s US dollar buying rate was Rs 359.40 and the selling rate Rs 370.27.
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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