Business
Optimism in share market following reassurances of support for SL’s debt restructuring by creditors
By Hiran H.Senewiratne
CSE trading activities were positive throughout yesterday and some optimism was noted in all sectors. The positive outlook stemmed from creditors’ reassurances of support for restructuring the country’s external debt to enable it to obtain an IMF bailout. India’s External Affairs Minister S Jaishankar, for instance, pledged to support crisis-hit Sri Lanka’s debt restructuring efforts, stock market analysts said.
Consequently, shares shot up in mid- day trade. The market moved to green territory due to India agreeing to restructure debts and investors expect China to follow suit, the analysts said.
On top of that, at the Treasury Bill auction, Treasury Bill prices indicated a declining trend, which also helped to improve investor sentiment in the market, market analysts added. The market had seen a pick- up after President Ranil Wickremesinghe said that debt restructuring talks with India and China are successful.
Amid those developments both indices moved upwards. The All-Share Price Index went up by 233.23 points and S and P SL20 rose by 89.6 points. The e market generated a turnover of Rs. 2.24 billion within four crossings. Those crossings were reported in JKH, which crossed 500,000 shares to the tune of Rs 48.75 million, its shares traded at Rs 137.50, Lion Brewery 8600 shares crossed for Rs 52.1 million, its shares fetched Rs 600, Sampath Bank one million shares crossed for Rs 40 million and its shares traded at Rs 40 and HNB 265,000 shares crossed to the tune of Rs 20.9 million, its shares fetched Rs 39.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 221 million (1.1 million shares traded), Hayleys Rs 221 million (2.9 million shares traded), Hemas Holdings Rs 132 million (2.2 million shares traded), Sampath Bank Rs 101 million (2.5 million shares traded), People’s Leasing Rs 90.9 million (14.6 million shares traded), Softlogic Life Insurance Rs 89.1 million (834,000 shares traded) and Browns Investments Rs 77.1 million (11.5 million shares traded). During the day 89.9 million share volumes changed hands in 21000 transactions.
In previous sessions, the market was carried on life insurance shares, but the market is moving on broader interest and pickup, analysts further stated.It is said high net worth and institutional investor participation was noted in JKH. Mixed interest was observed in Hayleys, First Capital Holdings and Capital Alliance, while retail interest was noted in Industrial Asphalts, LOLC Finance and Browns Investments.
The Capital Goods sector was the top contributor to the market turnover (due to Hayleys and JKH) while the sector index gained 1.14 per cent. The share price of Hayleys increased by Rs. 6.30 (9.80 per cent) to close at Rs. 70.60. The share price of JKH lost 50 cents to close at Rs. 136.25.
The Diversified Financials sector was the second highest contributor to the market turnover (due to Softlogic Capital, First Capital Holdings and Capital Alliance) while the sector index increased by 0.49%.
The share price of Softlogic Capital moved up by 10 cents to close at Rs. 15.10. The share price of First Capital Holdings recorded a gain of Rs. 1.30 (3.77 per cent) to close at Rs. 35.80. The share price of Capital Alliance declined by 40 cents to close at Rs. 31.10.
Business
David Pieris Automobiles opens Sri Lanka’s first GWM Flagship Experience Centre
David Pieris Automobiles (Private) Limited (DPA), the four-wheeler sales arm of the David Pieris Group, announced the opening of its state-of-the-art GWM Flagship Experience Centre at 250, Access Tower 03, Union Place, Colombo 02, marking a significant milestone in the evolution of Sri Lanka’s automotive retail landscape.
The newly opened flagship facility is designed to deliver a truly world-class automotive experience, showcasing the latest innovations and technologies from GWM, one of the world’s leading automobile manufacturers. As the first and only vehicle experience centre of its kind in Sri Lanka, it offers customers an immersive journey that goes beyond the traditional showroom concept. Visitors can explore GWM’s premium range of SUVs and electric vehicles, including the HAVAL H6 HEV, HAVAL H6 PHEV, HAVAL H6 GT PHEV, TANK 300 HEV and TANK 500 HEV, while enjoying dedicated vehicle demonstration zones, test-drive opportunities, and a host of innovative customer engagement experiences designed to redefine the vehicle purchasing journey. GWM’s product portfolio in Sri Lanka will be further expanded in the coming months with the introduction of several new models, including a range of fully electric vehicles.
With a legacy spanning over four decades, the David Pieris Group has earned a reputation as one of Sri Lanka’s most trusted automotive organisations, particularly for its comprehensive after-sales support and customer service excellence. Strengthening its commitment to GWM customers, DPA has already established a dedicated, state-of-the-art GWM service centre at No. 75, Hyde Park Corner, Colombo 02, supported by an expanding network of authorised service dealers across the island to ensure convenient and reliable customer care.
Commenting on the opening, Mahesh Gunathilake, Director, David Pieris Automobiles, stated: “The opening of the GWM Flagship Experience Centre represents a significant milestone in our journey with the GWM brand in Sri Lanka. This is the country’s first dedicated state-of-the-art experience centre for GWM vehicles, offering customers the opportunity to experience world-class automotive technology, premium comfort and advanced safety features. GWM has successfully redefined modern mobility by delivering high-end luxury and innovation at an affordable price point, and we are proud to bring this exceptional experience to Sri Lankan motorists.”
The opening of the flagship facility further reinforces David Pieris Automobiles’ commitment to expanding GWM’s presence in Sri Lanka while providing customers with an unmatched ownership experience backed by the Group’s renowned sales and after-sales expertise.(DPA)
Business
Sri Lanka’s culinary strengths engagingly explored
Issue no.1 of a ground-breaking journal on Sri Lankan food and culture has just been launched and it’s such an engaging ‘read’ that it just cannot be put down by the reader until s/he reaches the last word in the publication. Titled ‘ROOTED’ it is a publication of Rooted Publications Pvt. Ltd. Colombo (www.rootedsrilanka.com).
This is no run-of-the-mill journal on local ‘culinary delights’. It is a profoundly empathetic, sensitive exploration of the uniqueness of Sri Lankan food and the cultures of the country. In other words, it’s a close, appreciative examination of what makes the native food of Sri Lanka and its cultures special and hard to replicate and replace.
Writers of the arrestingly illustrated articles in ‘ROOTED’ have apparently spared no pains to travel the length and breadth of Sri Lanka to unravel, with mesmeric pleasure, the food and drink offers at the heart of Sri Lankan cuisine. The food connoisseur has all his curiosities satisfied in the journal and cannot prevent his taste buds from being stimulated on reading the contents of the journal.
Regardless of geographical or physical location what Sri Lanka has to offer its own people or the visitor to the country by way of particularly indigenous dishes and meal spreads are made to come alive in these pages. The connoisseurs and food experts are taken on an entrancing journey into homes transformed into family restaurants, aromatic eateries and bustling market places with sizzling catch along the sea coast of the island to its interior in this appetizing survey of Sri Lankan food.
What is distinct in terms of food and drink to the different ethnicities and cultures of the land are rendered in larger-than-life eye-catching portrayals via the pen and the lens. Consequently the journal not only celebrates food but also its distinctive cultural roots and identities. That is, people are serenaded alongside food.
In the process, the ‘ambul thials’, the ‘ala thel and brinjal badums’, the ‘thilapia curries’, the multifarious, ‘mouth-burning sambols’ and heady ‘Arrack shots’ experimentally mixed, to name just a few such offers of food and drink with a uniquely Sri Lankan stamp on them, are made to come alive in ‘ROOTED’.
The magazine has been put together by an editorial team headed by editors Chadini Fernando, Vidya Balachander and they need to be commended on a job well done.
By Lynn Ockersz
Business
MO Marketplace App: A space for women to sell in Sri Lanka
In Sri Lanka, selling something has always carried an unspoken risk for women. Share your number with a stranger. Arrange a meeting. Handle cash. Hope for the best.
MO Marketplace, live since June 2024, has removed every one of those friction points. Buyers and sellers on the platform never need to exchange personal contact details. Payments are held in escrow until delivery is confirmed. Pickup and drop-off is managed entirely by MO. Two people can complete a transaction from start to finish without ever speaking directly to each other.
For women running home-based businesses or women simply have too many clothes and things, that architecture is not a convenience. It is a fundamental shift in what is possible.
The evidence is in the listings. Clothing, fashion, and home goods dominate the platform, categories overwhelmingly driven by female sellers and buyers. From home-based clothing traders to small lifestyle businesses operating out of living rooms across Colombo, women are using MO to participate in commerce on their own terms, without compromising safety or privacy.
The platform has recorded 45,000 downloads and 14,000 registered users in 18 months, with peak monthly active users of 15,000. Commissions are capped at a flat 10%, significantly below the 15% to 30% charged by dominant platforms, making it accessible for small and micro sellers.
Coming mid-2026, AI tools will automatically generate listing descriptions and enhance product images, removing two of the most common barriers to getting started as a seller. Video selling is also on its way.
Sri Lanka has no shortage of entrepreneurial women. Until now it lacked a platform designed around how they actually need to trade.
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