Connect with us

Business

Rate reduction by Central Bank exerts rejuvenating impact on CSE

Published

on

By Hiran H.Senewiratne

The stock market yesterday was extremely bullish on account of the Central Bank decision to reduce the Standing Deposit Facility Rate and the Standing Lending Facility Rate by 50 basis points. It was a major surprise for stock market investors.

Further, Central Bank Governor Dr Nandalal Weerasinghe’s positive comments on the national economy and its way forward lifted the spirits of local and foreign investors, market analysts said.

Amid those developments both indices moved upwards. The All Share Price Index went up by 100.7 points while S and P SL20 rose by 57.21 points. Turnover stood at Rs 2.4 billion with four crossings. Those crossings were reported in Sampath Bank, which crossed 5 million shares to the tune of Rs 390 million; its shares traded at Rs 78, LOLC 200,000 shares crossed for Rs 79.25 million; its shares traded at Rs 405, Hayleys 650,000 shares crossed for Rs 53.3 million; its shares traded at Rs 82 and Hayleys Fabrics 590,000 shares crossed for Rs 23.9 million and its shares sold at Rs 40.50.

In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 314 milllion (4 million shares traded), DFCC Bank Rs 280 million (3.9 million shares traded), HNB Rs 121 million (706,000 shares traded), Browns Investments Rs 69.1 million (12.7 million shares traded), LOLC Finance Rs 49.9 million (9 million shares traded), LOLC Holdings Rs 46.9 million (117,000 shares traded) and Ceylon Grain Elevators Rs 41.65 million (248,000 shares traded). During the day 80.7 million share volumes changed hands in 14200 transactions.

It is said that high net worth and institutional investor participation was noted in Sampath Bank, LOLC Group of companies and Hayelys. Mixed interest was observed in Sampath Bank and LOLC Holdings while retail interest was noted in Tess Agro, Industrial Asphalts and Browns Investments.

The Banking sector was the top contributor to the market turnover (due to Sanasa Development Bank and Nations Trust Bank) while the sector index gained 0.20%. The share price of Sanasa Development Bank decreased by 40 cents to descend to Rs. 30.60. The share price of Nations Trust Bank closed flat at Rs. 104.50.

The Capital Goods sector was the second highest contributor to the market turnover (due to Hayleys), whilst the sector index edged down. The share price of JKH recorded a gain of 50 cents to reach Rs. 190.50. The share price of ACL Cables appreciated by 50 cents to reach Rs. 83.90.

Yesterday, the rupee opened stronger at Rs 301.90/302.00 to the US dollar in the spot forex market, stronger from Rs 302.60/70 the previous day, dealers said.

Bond yields were down. A bond maturing on 15.12.2026 was quoted at 11.25/32 percent, down from 11.30/40 percent on Monday. A bond maturing on 15.12.2028 was quoted at 12.05/15 percent, down from 12.10/15 percent.



Business

From Mt. Fuji to Sri Pada: Lessons from a father-son climb

Published

on

by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

Continue Reading

Business

FLIR, Marlbo promote smarter industrial maintenance

Published

on

Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

Continue Reading

Business

Lumbini Tea Valley wins intl award for Singharaja Wirytips

Published

on

Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

Continue Reading

Trending