Connect with us

Business

Bourse in the red as local govt. election results pour in

Published

on

CSE trading turned red within the first half hour of market open yesterday, as local government election results showed that the ruling party had no clear majority. Besides, India reportedly made multiple missile strikes on Pakistani targets, which it said was linked to the killing of tourists in Indian-administered Kashmir.

The All Share Price Index went down by 111 points, while the S and P SL20 declined by 34 points. Turnover stood at Rs 3.2 billion with six crossings. The crossing were reported in Agalawatta Plantation, which crossed 32.5 million shares to the tune of Rs 1.68 billion; its shares traded at Rs 51.9, HNB 940,000 shares crossed to the tune of Rs 27.8 million; its shares traded at Rs 293, Chevron Lubricants 150,000 shares crossed for Rs 22.2 million and its shares sold at Rs 148, Sampath Bank 200,000 shares crossed for Rs 21.8 million; its shares traded at Rs 109, Ceylon Theatres 55000 shares crossed to the tune of Rs 21.4 million; its shares traded at Rs 390 and JKH one million shares crossed for Rs 20.3 million and its shares sold at Rs 20.30.

In the retail market top six companies that mainly contributed to the turnover were; JKH Rs 154 million (7.6 million shares traded), Prime Lands Residencies Rs 110 million (8.8 million shares traded), Sampath Bank Rs 96.5 million (887,000 shares traded), Browns Investments Rs 66.7 million (eight million shares traded), Hemas Holdings Rs 66.6 million (2.6 million shares traded) and Kotagala Plantations Rs 50.1 million (4.6 million shares traded). During the day 202 million share volumes changed hands in 15000 transactions.

It is said that the plantations sector led the market, especially with Agalawatte Plantations, while the banking and manufacturing sectors performed reasonably well.

Yesterday the rupee opened at Rs 299.43/48 to the US dollar in the spot market, stronger against the previous day’s close of Rs 299.50/75, dealers said, while bond yields edged down.

A bond maturing on 15.09.2027 was quoted at 9.25/35 percent. A bond maturing on 15.10.2028 was quoted at 9.85/90 percent, up from 9.82/85 percent. A bond maturing on 15.12.2029 was quoted at 10.24/26 percent, down from 10.25/30 percent. A bond maturing on 15.03.2031 was quoted at 10.70/75 percent, from 10.68/75 percent. An auction of Rs. 130,000 million Treasury bills was ongoing.

By Hiran H.Senewiratne



Continue Reading
Click to comment

Leave a Reply

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

Business

GDP data reaffirms persistent asymmetry of Sri Lanka’s provincial economy

Published

on

Western Province maintains its dominant position, accounting for 42.4% of nominal GDP

The 2024 provincial GDP data reaffirms the profound and enduring structural asymmetry in Sri Lanka’s economic geography. The Western Province continues to function as the nation’s overwhelming economic core, while the second and third runners-up, the North Western and Central Provinces respectively, operate on a markedly different scale and sectoral foundation.

The Western Province maintains its dominant position, accounting for 42.4% of the country’s nominal GDP. This preeminence is rooted in its commanding role across the high-value Services and Industry sectors, where it contributes 44.5% and 47.6% of national output, respectively. Its economy is distinctively modern, with a scant 2.3% reliance on agriculture and over 98% of its output derived from industry and services. This concentration of finance, trade, administration, and manufacturing creates an unmatched gravitational pull for investment and talent.

In stark contrast, the combined economic share of the North Western (11.5%) and Central (10.7%) Provinces is just over half that of the Western Province alone. Their paths to relevance are fundamentally different. The North Western Province has solidified its role as the nation’s agricultural heartland, contributing a full 20.0% of national agricultural activity. It also holds a significant, though secondary, position in industry at 12.0%. Its internal economic composition is more balanced across sectors than the west, with a notable reliance on industry (29.1% of its own GDP) alongside agriculture.

The Central Province, meanwhile, presents a more services-oriented profile among the runners-up, contributing 10.7% to the national services total. It also holds important shares in agriculture (13.9%) and industry (9.6%). Internally, its economy mirrors the national structure most closely among major provinces, with services constituting about 63% of its output. This suggests a diversified regional economy centered on urban hubs like Kandy, but one that lacks the concentrated high-end service power of Colombo.

The comparative analysis reveals a clear hierarchy. The Western Province is the integrated, metropolitan driver of the modern economy. The North Western Province serves as a vital agro-industrial base, and the Central Province as a diversified regional center. Despite a noted increase in the combined share of the other provinces, the gap remains vast. The economic landscape is thus characterized not by convergence, but by a persistent and specialized asymmetry, where the runners-up support the national economy through different, but essential, sectoral strengths, all while operating in the long shadow of the western province.

by Sanath Nanayakkare

Continue Reading

Business

Sri Lanka Insurance supports 1,000 families in flood-affected areas

Published

on

Dry ration packs were distributed through the NDRSC

Sri Lanka Insurance Life and Sri Lanka Insurance General, in collaboration with the National Disaster Relief Services Centre (NDRSC), extended vital assistance to 1,000 families affected by the recent ‘Ditwah’ cyclone. The relief initiative was carried out in two phases on 30th November and 2nd December 2025, reflecting the company’s continued commitment to supporting communities in times of distress.

Dry ration packs were distributed through the NDRSC to the Maharagama Urban Council and the Divulapitiya Pradeshiya Sabha, ensuring that aid reached the most affected households swiftly and efficiently. Both distribution programmes were held with the participation of local authorities and the management teams of SLIC Life and SLIC General, further strengthening the company’s close partnership with the communities it serves.

Speaking on the initiative, Chairman of Sri Lanka Insurance, Nusith Kumaaratunga, stated; “Sri Lanka Insurance has always placed community wellbeing at the heart of its purpose. In difficult times such as these, it is our responsibility to stand with the families who have been affected and offer meaningful support. This relief effort reflects our ongoing commitment to uplift communities and reinforces our role as a trusted national insurer focused on protection, care, and compassion.”

In addition to the relief programme, Sri Lanka Insurance has implemented extended operating hours at selected SLIC General branches in the affected areas to ensure uninterrupted service. Claims, customer care teams, and branch staff are working beyond regular hours to provide prompt assistance to policyholders impacted by the severe weather conditions.

Sri Lanka Insurance remains dedicated to safeguarding its customers and supporting communities across the nation, reaffirming its longstanding promise of protection, stability, and service excellence.

Continue Reading

Business

Jaffna Hindu College wins regional AIA Healthiest Schools award

Published

on

The college was honoured at a vibrant regional awards ceremony

Jaffna Hindu College was named as one of the winners at the regional award ceremony of the prestigious AIA Healthiest Schools Competition, a flagship initiative by AIA Group aimed at promoting healthier habits among students across Asia-Pacific region through innovative school-based projects. The competition, which drew a record number of entries from eight regional markets, recognises schools that implement innovative and impactful initiatives in the areas of healthy eating, active living, mental wellbeing, and sustainability. Jaffna Hindu College stood out in the Active Lifestyles Award Category for its creative and community-focused project that introduced a bicycle rental system, ensuring greater access to physical activity for all students and encouraging healthier lifestyles across the region.

The winners of AIA Healthiest Schools programme were honoured at a vibrant regional awards ceremony in Da Nang, Vietnam, where the prize money was awarded to the respective schools to support the ongoing health and wellbeing initiatives.

The Cycling Club was introduced to make physical activity accessible and enjoyable for all students. The club introduced a bicycle rental system, managed via a custom software platform, ensuring equitable access regardless of financial background. Students participated in a cycle parade and three themed challenges focused on endurance, speed, and teamwork. The initiative quickly became popular, engaging over 100 students and receiving enthusiastic support from teachers, parents, and local businesses. Experienced cyclists from the community volunteered as coaches, while cycling organisations provided safety training and route planning.

Continue Reading

Trending