News
CSE in positive mode in spite of GSP+ concession under review
By Hiran H.Senewiratne
The Colombo Stock Exchange (CSE) on the previous day set a new benchmark and due to that investors remained bullish yesterday for the third consecutive day with robust turnover though some profit-taking was evident.
However, CSE yesterday did not negatively react to Tamil National Alliance (TNA) MP M A Sumanthiran’s comment to a website that it was his belief that the European parliament has already decided to withdraw access to the Generalised Scheme of Preferences Plus (GSP+) concession as per a resolution passed in June this year, market analysts said.
Sri Lanka is at risk of losing access to a European trade concession worth over 500 million US dollars by April 2022 if the government does not take drastic measures to address human rights concerns, an opposition lawmaker said. This would happen if the government makes some dramatic changes to address human rights issues, the country is likely to lose GSP+ in April next year,” he said. Further, stock market investors are now adopting cautious stance till the Central Bank Governor Ajith Nivard Cabraal announces a short term road map for the development of the capital market, stock market analysts said.
Amid those developments both indices moved upwards. All Share Price Index up 102.1 points and S and P SL20 up by 67.1 points. Turnover stood at Rs 5.9 billion with three crossings. Those crossings were reported in Browns and Company, which crossed 800,000 shares to the tune of Rs 160 million and its share price traded at Rs 200, JKH one million shares crossed for Rs 141 million and its share price traded at Rs 141, TJ Lanka 500,000 shares crossed for Rs 21.5 million and its share price traded at Rs 43.
In the retail market top five companies that mainly contributed to the turnover were Browns Investments Rs 1.4 billion (137 million shares traded), Expolanka Rs 1.18 billion (six million shares traded), LOLC Holdings Rs 729 million (1.2 million shares traded), JKH Rs 466 million (3.2 million shares traded) and Royal Ceramic Rs 204 million (4.4 million shares traded). During the day 238 million share volume changed hands in 35000 transactions.
It said high net worth and institutional investor participation was noted in Browns Investments, Hayleys and JKH. Mixed interest was observed in LOLC Holdings, Commercial Leasing & Finance and Royal Ceramics whilst retail interest was noted in Lanka Orix Finance, Galadari Hotels and Expolanka Holdings. The US Dollar traded at Rs 199.75 and the US dollar has been settled at a maximum rate of Rs 202 with the controlling mechanism adopted by the Central Bank of Sri Lanka.
Police urge motorists who intend to use the Ella – Wellawaya Road to use alternative roads as there is a severe vehicle congestion due to inclement weather condition.
The oil anointing ceremony for the Sinhala and Tamil New Year was held on April 16 at the historic Rajamaha Viharaya in Kolonnawa, with the participation of Prime Minister Dr. Harini Amarasuriya.
Following the chanting of pirith, the oil anointing ritual was carried out at the auspicious time of 9:04 a.m., by the Chief Incumbent of the temple, Venerable Kolonnawa Dhammika Thero.
Speaking after the ceremony the Prime Minister said that:
“The Sinhala and Tamil New Year is one of the most important festivities in our country. It is a celebration with our families, reflecting our traditions and customs while strengthening the ties.
This festival leads the path for renewing unity, love, and bonds stronger. These values enrich a country. Development of a country is not limited by one-dimensional; a true development includes spirituality, relationships, and connections. The reason why we uphold these customs in such ceremonies is to remind ourselves of the significance and to pass on their value to future generations.
Therefore, today marks a significant day. Throughout this week, we came together and engaged in various activities. Followed by, the next event will mark the leaving for employment at the auspicious time and we should start working collectively to rebuild the country.
I wish everyone a New Year that is prosperous, peaceful, joyful, full of strengthened relationships, and most importantly, safe for all.”
The ceremony was graced by the presence of the Maha Sangha, and attended by the Deputy Minister of Youth Affairs Eranga Gunasekara, Divisional Secretary to Kolonnawa Priyanath Perera, Municipal Secretary Nelum Kumari Gamage, and the residents of the area.
[Prime Minister’s Media Division]
Latest News
Heat Index at ‘Caution Level’ at some places in Northern, North-central, North-western, Western, Southern and Eastern provinces and in Rathnapura and Monaragala districts today [16]
Warm Weather Advisory Issued by the Natural Hazards Early Warning Centre of the Department of Meteorology for 16 April 2025
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, North-central, North-western, Western, Southern and Eastern provinces and in Rathnapura and Monaragala districts.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.
Effect of the heat index on human body is mentioned in the table below and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
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