Connect with us

Business

Stock trading hamstrung by pitfalls in M-E peace effort

Published

on

CSE activities yesterday were not very strong due to the absence of progress in the US-Iran peace deal, market analysts said.

Owing to that both indices moved downwards. The All Share Price Index went down by 57.96 points, while the S and P SL20 declined by 25.77 points.

Turnover stood at Rs 4.92 billion with five major crossings. Those crossings were; Seylan Bank 26.6 million shares crossed to the tune of Rs 2.76 billion; its shares traded at Rs 26.60, Ceylon Land and Equity 14 million shares crossed to the tune of Rs 154 million; its shares traded at Rs 11, Digital Mobility Solutions 330,000 shares crossed for Rs 54.1 million; its shares traded at Rs 164, Sampath Bank 250,000 shares crossed for Rs 37 million; its shares sold at Rs 149.75 and JKH 1 million shares crossed for Rs 20.6 million; its shares traded at Rs 20.60.

In the retail market top seven companies that mainly contributed to the turnover were; Digital Mobility Solutions Rs 119 million (725,000 shares traded), Commercial Bank Rs 74.5 million (355,000 shares traded), Colombo Dockyard Rs 58.8 million (413,000 shares traded), Ceylon Grain Elevators Rs 53 million (110,000 shares traded), CIC Holdings (Non-Voting) Rs 45.3 million (1.6 million shares traded), CIC Holdings Rs 43.9 million (1.3 million shares traded) and JAT Holdings Rs 43.5 million (one million shares traded). During the day 185 million share volumes changed hands in 27859 transactions.

It is said that the banking sector counters led the market, especially with the Seylan Bank crossing, which contributed more than half to the day’s turnover. Further, manufacturing sector counters, especially JKH, also performed well.

Hikkaduwa Beach Resorts said it has temporarily shut down operations for refurbishment and operational improvements within the property. The stock was down 1.61 percent at Rs 6.10.

Yesterday the rupee was quoted at Rs 321.40/90 to the US dollar in the spot market, from Rs 321.70/90 on Friday, dealers said, while bond yields were broadly steady.

A bond maturing on 15.12.2028 was quoted at 9.75/85 percent.

A bond maturing on 15.10.2029 was quoted at 9.90/10.00 percent.

A bond maturing on 01.07.2030 was quoted at 10.10/15 percent, up from 10.05/15 percent.

A bond maturing on 15.03.2031 was quoted at 10.15/25 percent.

A bond maturing on 15.12.2032 was quoted at 10.70/80 percent.

A bond maturing on 01.11.2033 was quoted at 10.90/11.05 percent.

The telegraphic transfer rates for the American dollar were 318.3000 buying, 325.3000 selling; the British pound was 431.7273 buying, and 443.1725 selling, and the euro was 372.0629 buying, 383.6027 selling.

By Hiran H Senewiratne



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Business, economic heavyweights converge in Colombo

Published

on

Senior business leaders, economists and international development experts, alongside the Prime Minister of Sri Lanka, will headline the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12 and 13 October at the Shangri-La Colombo.

The Summit will open with a keynote address by T. Krishnakumar, Chief Executive Officer, Reliance Consumer Products Ltd, who brings more than four decades of experience in the consumer brands and FMCG sectors. Having previously served as President of Coca-Cola India and Southwest Asia, with extensive experience in building businesses and driving growth across emerging markets, Krishnakumar, more popularly known as Kk, now leads Reliance Consumer Products as it expands across categories and builds new customer, partnership and market opportunities.

Day 2 will bring together four international perspectives across discussions on economic resilience, regional connectivity, sector growth and digital transformation.

Lilia Aleksanyan, Senior Country Economist for Sri Lanka at the Asian Development Bank, will open the day’s discussions with a focus on Sri Lanka’s economic resilience. Her work covers the country’s macroeconomic outlook, policy advice and macro-fiscal and financial-sector reform. Her international policy experience also includes roles at the French Ministry of Finance and the French Central Bank.

The Summit will then turn to Sri Lanka’s connections with regional markets, with P. D. Singh, Chief Executive Officer, India & South Asia, Standard Chartered Bank, delivering the keynote for the session on trade corridors and value chains. Singh counts close to three decades of experience in banking and finance, with senior leadership roles spanning Standard Chartered, JPMorgan Chase Bank and HSBC.

The Sector Deep Dives will bring international perspectives to discussions on healthcare and energy.

Tushar Shroff, Chief Financial Officer, Zydus Lifesciences Ltd, will deliver the keynote for the healthcare discussion, drawing on more than three decades of experience in corporate finance, strategic investment and financial transformation. His career spans senior finance and leadership roles with ABB, Piramal Healthcare, Intas Pharmaceuticals and Vedanta Group, giving him a broad perspective on the business and investment decisions shaping the healthcare sector.

For the energy-focused deep dive, Edore Onomakpome, Regional Infrastructure Industry Manager for Bangladesh, Sri Lanka and Nepal at the International Finance Corporation, will bring extensive experience in infrastructure investment and project finance across emerging markets. Since joining IFC in 2013, she has held senior roles across Africa and South Asia, including managing IFC’s infrastructure portfolio across 16 countries.

The Summit will conclude its keynote programme with Prime Minister Dr. Harini Amarasuriya, who will deliver the keynote for “Nation Building in the Digital Age.” The Prime Minister also oversees the Ministry of Education, Higher Education and Vocational Education, bringing a direct policy perspective to discussions on digital transformation, innovation, education and the skills needed for a changing economy.

Together, these perspectives will bring regional, international and policy insight to SLEIS 2026 as Sri Lanka considers how to strengthen economic resilience, attract investment, deepen regional connections and develop new sources of growth.

Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will take place on 12 and 13 October 2026 at the Shangri-La Colombo.

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Microsoft Sri Lanka (Pvt) Limited, Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations for SLEIS 2026 are now closed. The Ceylon Chamber looks forward to welcoming participants to the discussions on Sri Lanka’s future trajectory on 12 and 13 October.

Continue Reading

Business

Commercial Bank launches ‘Prestige’ banking for HNW clients

Published

on

Sharhan Muhseen, Chairman of Commercial Bank flanked by Sanath Manatunge, Managing Director/CEO and Hasrath Munasinghe, Executive Director/Chief Operating Officer at the launch of Commercial Bank Prestige Banking

Commercial Bank of Ceylon has launched ‘Prestige’, a three-tier banking proposition aimed at high-net-worth (HNW) clients, combining wealth management, advisory services and lifestyle benefits.

The initiative replaces the bank’s existing ‘Elite’ private banking brand with Ruby, Sapphire and Diamond tiers, designed to cater to customers according to their wealth profiles and banking relationships.

The bank said Prestige would provide dedicated relationship managers, priority branch services, preferential rates on loans and deposits, enhanced card privileges, family banking programmes and offshore account solutions.

Its wealth and investment management services include access to capital-protected income solutions, dual-currency investments, institutional deals and estate and portfolio governance.

Clients will also have access to specialist financial and corporate advisory services, including assistance with international relocation, overseas property and capital repatriation.

The programme includes lifestyle benefits such as VIP airport lounge access, travel concierge services, property management and medical coordination, as well as access to selected art and culinary events.

The bank said its flagship Prestige banking residence at R.G. Senanayake Mawatha, Colombo 07, had been refurbished, with the service to be extended to other economically important cities.

Commercial Bank Managing Director/CEO Sanath Manatunge said Prestige was intended to support customers in managing their wealth, business interests, family needs and long-term legacy.

Existing Elite clients are being transitioned to the new programme, the bank said.

Continue Reading

Business

Ceylinco Life rewards 80 sales achievers with overseas tours

Published

on

Ceylinco Life has rewarded 80 members of its sales force with overseas tours to Vietnam and China for their outstanding performance in the company’s 2025 sales competitions.

The group comprised 62 sales achievers who travelled to Vietnam and 18 who visited China.

The Vietnam tour included visits to Hanoi’s Ho Chi Minh Complex, One Pillar Pagoda, Tran Quoc Pagoda and Hoan Kiem Lake. The group also travelled to Ha Long Bay, where they went on an Aurora Cruise and explored attractions including Sung Sot Cave, Luun Cave and Titop Island.

The tour also featured a sunset party aboard the cruise, with music and refreshments.

The 18 achievers who travelled to China visited several of Beijing’s major historical and cultural attractions, including Tiananmen Square, the Forbidden City and the Summer Palace. They also took a boat ride on Kunming Lake.

A highlight of the China tour was a visit to the Mutianyu section of the Great Wall, including a round-trip cable car ride. The group also attended an acrobatic show at Chaoyang Theatre and visited the Panda Garden at Beijing Zoo.

The company said the tours were organised to recognise and reward sales personnel for their performance and achievements.

Continue Reading

Trending