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CSE returns to green territory following five-day bearish run

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By Hiran H.Senewiratne

CSE trading turned positive yesterday after experiencing a massive plunge over the previous five days. However, the market was able to record the highest intraday trading level of the All- Share Price Index yesterday. The market started on a positive note but later turned negative for a short time. Later heavy buying interest on blue chip counters dragged the market to green territory, stock market analysts said.

Due to the heavy market downfall in the last four to five days most of the valuable share prices came down. As a result, bargain hunters grabbed the opportunity and purchased such stocks, analysts said.

Since last week, the market has lost Rs. 843 billion in value as investor sentiment turned negative on macro factors, while some sections opined that the bourse needs new buyers for attractive valuations. But yesterday the market was able to recover despite internal and external environmental issues, stock brokers said.

Due to the massive plunge in recent days, the year- to- date ASPI negative return is nearing 13 per cent while the S&P SL20 topped 15%. However, foreigners have cashed in with net buying of nearly Rs. 300 million so far this week. Amid those developments both indices moved upwards. All -Share Price Index went up by 450 points and S and P SL20 rose by 166.9 points. Turnover stood above the average level of Rs 4.2 billion with three crossings. Those crossings were reported in Commercial Bank, which crossed 2.6 million shares to the tune of Rs 210 million and its shares traded at Rs 79, Access Engineering one million shares crossed to the tune of Rs 24.5 million and its shares traded at Rs 24.50 and Sampath Bank 400,000 shares crossed to the tune of Rs 21.2 million, its shares traded at Rs 53.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 932 million (3.7 million shares traded), Browns Investments Rs 397 million (36.7 million shares traded), LOLC Finance Rs 256 million (13 million shares traded), Commercial Leasing and Finance Rs 231 million (5.5 million shares traded), LOLC Holdings Rs 199 million (227,000 shares traded), Royal Ceramic Rs 155 million (3.4 million shares traded) and Commercial Bank Rs 133 million (1.6 million shares traded). During the day 165 million share volumes changed hands in 41000 transactions.

With the rising fear of investors, the index dropped at the beginning, yet managed to trade in the green zone for a few minutes. After suffering from a continuous break-down, during the latter part of the session the market turned positive. Diversified Financials sector was the top contributor to the market turnover (due to LOLC Holdings and LOLC Finance), while the sector lost 7.84 per cent. The shares of LOLC Holdings moved down by Rs. 93.50 (10.14 per cent) to close at Rs. 828.75. The shares of LOLC Finance recorded a loss of Rs. 2.20 (10.84 per cent) to close at Rs. 18.10.

Yesterday, the US dollar was quoted at Rs 201.97, which was the controlled price of the Central Bank. The actual market rate/ floating rate would be at the Rs 250 level. Some financial analysts predict that the dollar would to go up to Rs 300 towards the end of the year.



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Business

Champa Stores Marks 70 Years of Trusted Service in Kandy

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Employees of Champa Stores in Kandy

A longstanding fixture in Kandy’s commercial landscape, Champa Stores marks its 70th anniversary this year, underscoring a legacy built on trust, reliability and consistent quality across a diverse range of products and services.

Founded in 1956 by Wimaladasa Weeraratne, the business traces its origins to a modest beginning when three brothers from Matara relocated to Kandy in the 1950s in search of opportunity. Their entrepreneurial drive would go on to shape a lasting contribution to the city’s commercial life.

While Wimaladasa established Champa Stores, his brothers carved out their own successful ventures. Dharmadasa Weeraratne founded Devon, while Daya Weeraratne established Bakehouse. Both enterprises have since become well-known names in the city’s hospitality and bakery sectors, with Devon further expanding to include the The Grand Kandyan Hotel. Today, all three businesses continue to operate under the stewardship of the family’s next generation.

Over the decades, Champa Stores has evolved into a prominent retail and service hub, offering a wide selection of products ranging from mobile phones and laptops to audio equipment, accessories and sports goods. Its printing division, in particular, has earned a strong reputation for delivering high-quality services in Kandy.

Despite its growth, the business has retained the personal touch that has endeared it to generations of customers. Longtime patrons point to knowledgeable staff, dependable after-sales service and a customer-focused approach as key factors behind its enduring appeal.

Currently employing over 50 staff members, the business is managed by Chapa Weeraratne, representing the second generation of family leadership.

As it celebrates seven decades in operation, Champa Stores stands as one of Kandy’s enduring family-run enterprises—demonstrating that a reputation built on trust and service can successfully span generations.

 By S.K Samaranayake 

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Dialog Voted Service Brand and Telecommunication Brand of the Year at SLIM-KANTAR People’s Awards 2026

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Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, announced that it has been recognised as the ‘Service Brand of the Year’ for the 5th time and the ‘Telecommunication Brand of the Year’ for the 15th consecutive year at the SLIM-KANTAR People’s Awards 2026, held on 18 March 2026. Voted by Sri Lankans through a nationwide consumer survey, the recognition reflects the continued preference for Dialog’s services and the trust placed in the brand across the country.

 Since its inception in 2007, the SLIM-KANTAR People’s Awards have been based on consumer sentiment across multiple categories, recognising brands and individuals through public perception as an independent measure of brand affinity.

Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC said, “We are grateful for this continued confidence, which reinforces the responsibility we carry in serving millions of customers across the country. As we continue to evolve our services and digital platforms, our focus remains on delivering consistent, high-quality experiences while staying true to our purpose of empowering and enriching Sri Lankan lives and enterprises.”

As a recognition shaped by the voice of consumers across the country, these accolades reflect Dialog’s continued relevance in a rapidly evolving digital landscape, underscoring its role in supporting the connectivity needs of individuals, homes and businesses across Sri Lanka.

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ISRAs of Sri Lanka – Protecting Hidden Shark and Ray Hotspots

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Palk Bay ISRA

When you think of sharks in Sri Lanka, your mind probably goes to the sleek blacktip reef sharks gliding through the reefs of Pigeon Island. But what most people don’t realise is that Sri Lanka is home to over 100 species of sharks and rays—ranging from reef dwellers and open-ocean giants to mysterious deep-sea, with some juvenile bull sharks being found even in freshwater!. They’re scattered across almost every part of the coastline, from coral reefs and estuaries to muddy lagoons and inland waterways. Yet despite their presence, these fascinating creatures remain deeply misunderstood and largely unprotected in national conservation efforts.

Chances are, if you’ve eaten karawala (dried fish) in Sri Lanka, you’ve possibly eaten shark—without even knowing it. Shark meat often ends up in local markets with no species names, and no questions asked. But here’s the catch: unlike fast-growing fish like sardines or mackerel, most sharks and rays grow slowly, mature late, and have very few offspring. Some only give birth once every couple of years. That means that their populations are usually precarious and they are sensitive even to small-scale fishing operations, which push their populations into serious decline. And in Sri Lanka, while vessel sizes are smaller in comparison to many developed countries, the number of vessels combined with their fishing techniques has resulted in the depletion, and in the case of sawfishes, a likely local extinction.

That’s where Important Shark and Ray Areas (ISRAs) come in. ISRAs are a global science-based tool designed to designate places that matter most for sharks, rays, and chimaeras. They aren’t marine protected areas and don’t come with legal restrictions—but they highlight critical habitats based on rigorous scientific criteria. These include areas used for breeding, feeding, migration, or home to rare, threatened, or range-restricted species.

In 2024, after a thorough review and vetting process, five (of the seven) proposed areas from Sri Lanka were formally designated as ISRAs

Bathalangunduwa Island, located on the fringes of the shallow coastal Puttalam Lagoon and off the coast of Wilpattu National Park in northwestern Sri Lanka, qualifies as an ISRA based on the presence of the threatened Winghead Shark (Eusphyra blochii). This area meets two ISRA criteria: it supports a vulnerable species and functions as a reproductive habitat.

Palk Bay, a shallow, semi-enclosed water body shared between India and Sri Lanka, qualifies as an ISRA due to the presence of multiple important species. These include the threatened Shorttail Whipray (Maculabatis bineeshi), the range-restricted Sharpnose Guitarfish (Glaucostegus granulatus), and reproductive populations of the Grey Sharpnose Shark (Rhizoprionodon oligolinx). This was one of the few trans-boundary ISRAs covering both Indian, and Sri Lankan waters.

Pasikudah & Kalkudah, a coastal stretch in Sri Lanka’s Batticaloa District, is known for its coral reefs and nearshore shark activity. This ISRA qualifies due to the presence of threatened and range-restricted species, such as the Stripenose Guitarfish (Acroteriobatus variegatus).

Punnakuda Canyon, a deep-sea canyon located just offshore from Pasikudah & Kalkudah and beyond the boundaries of the coastal ISRA, qualifies based on the presence of threatened and range-restricted deep-sea species, including the Indian Swellshark (Cephaloscyllium silasi).

Pigeon Island, the only ISRA in Sri Lanka that overlaps with a Marine Protected Area—the Pigeon Island Marine National Park—qualifies due to the presence of threatened species and undefined aggregations, notably the Blacktip Reef Shark (Carcharhinus melanopterus).

These areas are already designated ISRAs. In addition to this Sri Lanka also has two “Areas of Interest”; Koddiyar Bay and Hikkaduwa.

While these ISRAs don’t enforce protection on their own, except for Pigeon Island, which happens to overlap with an already established National Park, they’re a vital starting point. They help guide where marine protected areas might be placed, where fishing regulations could be refined, and where development should tread carefully. For Sri Lanka, ISRAs offer a powerful chance to align conservation and fisheries planning before it’s too late.

Most importantly, ISRAs are created using available scientific knowledge. Organisations like Blue Resources Trust (BRT) were able to contribute to the designation of ISRA’s due to long-term monitoring of shark and ray fisheries across the country. BRT has built the largest dataset on Sri Lankan sharks and rays, thanks to contributions from the Tokyo Cement Group, the Save Our Seas Foundation (SOSF), the Marine Conservation and Action Fund (MCAF) of the New England Aquarium, the Hong Kong Ocean Park Conservation Foundation (OPCFHK), the Prince Bernhard Nature Fund, amongst others.

By designating our ISRAs, Sri Lanka now has the recognition to make smarter, science-led decisions for the ocean’s most vulnerable species.

As shark and ray populations decline under pressure from overfishing, habitat loss, and climate change, knowing where they still have a chance to thrive is the first step toward saving them. Through ISRAs, Sri Lanka can take the lead in showing how conservation and coastal livelihoods can go hand in hand.

To explore ISRA maps and learn more, visit: https://sharkrayareas.org

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