Connect with us

Business

Low monetary policy stance drives bullish all-time CSE high

Published

on

The CSE hit a bullish all-time high yesterday due to the low monetary policy stance and conducive macro- economic policy conditions prevailing in the country, market analysts said.

Both indices moved upwards. The All Share Price Index moved up by 234.5 points, while S and P SL20 rose by 108.5 points. Turnover stood at Rs 7.3 billion with 12 crossings.

Those crossings were reported in HNB, which crossed 500,000 shares to the tune of Rs 160 million; its shares traded at Rs 320, Seylan Bank two million shares crossed to the tune of Rs 156 million and its shares traded at Rs 78, Digital Mobility Solutions 1 million shares crossed to the tune of Rs 77.2 million and its shares sold at Rs 77.50, Sampath Bank 600,000 shares crossed for Rs 70.9 million; its shares sold at Rs 118, Tokyo Cement 900,000 shares crossed for Rs 67 million and its shares traded at Rs 74, Cargills Bank seven million shares crossed to the tune of Rs 66.5 million; its shares traded at Rs 9.50.

Central Finance 200,000 shares crossed to the tune of Rs 44 million; its shares traded at Rs 220, Seylan Bank 582,000 shares crossed for Rs 32 million; its shares traded at Rs 55, Commercial Credit and Finance 294,000 shares crossed to the tune of Rs 24.1 million; its shares traded at Rs 88, Aitken Spence 171,000 shares crossed for Rs 23.9 million; its shares traded at Rs 140, JKH 1 million shares crossed to the tune of Rs 21.3 million; its shares fetched Rs 21.30 and Renuka Hotel 1 million shares crossed for Rs 20.million; its shares traded at Rs 20.

In the retail market top six companies that mainly contributed to the turnover were; Sampath Bank Rs 256 million (2.1 million shares traded), Access Engineering Rs 242 million (5.6 million shares traded), Digital Solutions Mobility Rs 241 million (3.1 million shares traded), Commercial Credit Rs 230 million (2.8 million shares traded), Prime Lands Rs 215 million (16.5 million shares traded) and Lanka IOC Rs 214 million (1.5 million shares traded). During the day 271 million share volumes changed hands in 41000 transactions.

It is said that the banking sector was the largest contributor to the turnover, especially Sampath Bank and HNB, while the manufacturing sector was the second largest contributor, especially Tokyo Cement and JKH. The services sector also performed well, especially Digital Mobility Solutions.

Yesterday, the rupee opened at Rs 299.48/52 to the US dollar in the spot market, stronger against the previous day’s close of Rs 299.54/59, dealers said, while bond yields were broadly steady.

A bond maturing on 15.02.2028 was quoted at 8.75/85 percent. A bond maturing on 15.10.2028 was quoted at 8.95/9.00 percent, from 8.95/9.07 percent. A bond maturing on 15.06.2029 was quoted at 9.50/60 percent. A bond maturing on 15.12.2029 was quoted flat at 9.55/65 percent. A bond maturing on 15.03.2031 was quoted at 9.80/10.00 percent, up from 9.80/98 percent.

By Hiran H.Senewiratne



Continue Reading
Click to comment

Leave a Reply

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

Business

SriLankan Airlines Enhances Australia Connectivity with 14 Weekly Flights

Published

on

11 March 2026; Colombo – SriLankan Airlines is set to increase its weekly service between Colombo and Melbourne to 10 flights, effective from 2 August 2026, with the addition of three more scheduled flights in response to growing demand and evolving market dynamics. The expansion reinforces the airline’s commitment to strengthening its footprint in Australia, recently identified as one of the fastest-growing inbound tourism markets to Sri Lanka, driven by leisure travel and a rising volume of visits by family and friends.

The newly added flights will operate every Tuesday, Thursday and Sunday, departing Colombo as UL608 at 14:10 hrs and arriving in Melbourne at 04:30 hrs the following day. The return service, UL609, will depart Melbourne every Wednesday, Friday and Monday at 06:00 hrs, arriving in Colombo at 12:15 hrs the same day, offering convenient onward connections across the airline’s network. The schedule is designed to maximise time spent in Sri Lanka for leisure travellers while enhancing connectivity for passengers travelling onwards to India via Colombo.

In addition to the new frequencies, the airline will continue operating its daily service, UL604, departing Colombo at 00:20 hrs and arriving in Melbourne at 14:40 hrs, with the return service UL605 departing Melbourne at 16:10 hrs and arriving in Colombo at 22:25 hrs. These services provide seamless connectivity to key destinations across India and beyond.

This addition of flights will provide Sri Lankans with better options when choosing flights between the two countries and enable them to plan their travel more conveniently. The increased frequency will be especially beneficial for the Sri Lankan diaspora living in Australia, providing greater flexibility to visit family and friends while maintaining strong connections with their homeland.

Additionally, Sri Lankan students studying in Australia will find these enhanced services advantageous, as the expanded schedule accommodates academic calendars and holiday breaks, making it easier to travel home and return to their studies. Overall, improved connectivity supports both the expatriate community and students by offering more convenient and accessible travel options tailored to their needs.

The increased frequencies will further strengthen Colombo’s role as a regional hub, enabling Indian travellers to seamlessly connect via Sri Lanka to Melbourne, with convenient schedules and efficient onward connections. For more information and bookings, visit www.srilankan.com or follow us on our social media.

Continue Reading

Business

Nestlé Lanka marks 120 years of nourishing Sri Lankan families and livelihoods

Published

on

Nestlé Lanka Chairman and Managing Director Bernie Stefan (left) and Ruwan Welikala, Director – Corporate Affairs and Communications, provide an overview of Nestlé Lanka’s 120-year journey in Sri Lanka at a media briefing held on March 10 at Cinnamon Life – City of Dreams, Colombo. Pic by Nishan S. Priyantha

Nestlé Lanka Limited this year marks 120 years of operations in Sri Lanka, highlighting a century-long presence that has extended beyond food manufacturing to supporting farmers, communities, youth employment and environmental sustainability.

Established in 1906, the company has grown into one of Sri Lanka’s leading food and beverage manufacturers, today producing more than 90% of the products it sells locally. Over the decades, Nestlé Lanka has built a strong domestic footprint through local sourcing, long-term farmer partnerships and continued investment in manufacturing.

Through widely recognised brands such as Nestomalt, Milo and Maggi, the company has become a familiar presence in Sri Lankan households, offering products designed to meet local nutritional needs. Many of its products are fortified with micronutrients aimed at improving dietary intake, while brands such as Milo and Nestomalt have also supported youth sports and active lifestyles in the country.

Nestlé Lanka’s engagement with local agriculture has also played a role in strengthening rural livelihoods. The company works closely with dairy and coconut farmers, providing technical assistance, skills development and reliable market access as part of its responsible sourcing efforts.

The company has also expanded programmes aimed at improving youth employability. Through the “Nestlé Needs YOUth” initiative, young Sri Lankans are provided with access to training, learning and career opportunities. Partnerships with organisations such as BConnected have also helped promote inclusive employment opportunities for people with disabilities.

Sustainability has become an increasingly central focus of the company’s operations. Nestlé Lanka’s manufacturing facility in Kurunegala operates on 100% renewable electricity, while a biomass boiler commissioned in 2024 has helped reduce carbon emissions from manufacturing. The company aims to achieve net-zero carbon emissions by 2050.

Efforts to reduce environmental impact have also extended to packaging. Nestlé Lanka pioneered the shift from plastic to paper straws in aseptic beverage cartons in 2019 and supported the establishment of Sri Lanka’s first recycling plant for such cartons. The company aims to become fully plastic neutral by 2026.

Chairman and Managing Director Bernie Stefan said the milestone reflects the long-standing trust Sri Lankan consumers have placed in the company and the partnerships it has built across the country over generations.

By Sanath Nanayakkare

Continue Reading

Business

Over a century of Business History goes to the National Archives

Published

on

At the symbolic handing over: Director General of the National Archives Department Dr. Nadeera Rupesinghe (L) and chairperson, Ceylon Chamber of Commerce Krishan Balendra.

The Ceylon Chamber of Commerce has formally handed over its historical records to the National Archives Department of Sri Lanka, placing over a century of the nation’s commercial history into the care of the country’s official custodians of heritage.

The historical archive being handed over spans from the Chamber’s founding in 1839 to 1973, and includes correspondence, meeting minutes, reports, ledgers, and publications that chronicle the development of trade, enterprise, and industry in Sri Lanka. Together, these records provide a rare and detailed account of how the island’s economy evolved and how its business community helped shape national progress.

The Ceylon Chamber of Commerce was established on 25 March 1839 on the principle that the interests of commerce and trade are best advanced when merchants unite and cooperate in matters affecting the common good. At the time, Ceylon was among the earliest regions in Asia to establish a chamber of commerce, alongside counterparts in Bengal, Bombay, Madras, Canton, Penang, and Singapore.

From its earliest years, the Chamber played a central role in organising and guiding trade. It played a central role in establishing and growing the export economy built on commodities such as coffee, cinnamon, coconut oil, tea, and rubber, and hosted the island’s renowned tea and rubber auctions. It also developed rules and standards for trading practices, helping create an environment of trust and reliability that enabled Sri Lanka’s commerce to thrive.

Continue Reading

Trending