Connect with us

Business

Profit-takings stymie stock market’s positive proclivities

Published

on

CSE trading on the floor kicked off on a positive note yesterday but subsequently technical profit- takings moved the market downwards.

Amid those developments both indices declined. The All Share Price Index went down by 55.99 points, while the S and P SL20 declined by 29.1 points. Turnover stood at Rs 7.5 billion with12 crossings.

Some of those crossings were reported in Alumax, where 71.2 million shares crossed to the tune of Rs 1.2 billion; its shares traded at Rs 18, E.B Creasy 2.8 million shares crossed to the tune of Rs 182 million and its shares sold at Rs 65, Aitken Spence 41000 shares crossed to the tune of Rs 96.1 million; its shares traded at Rs 150, Sunshine Holdings three million shares crossed for Rs 91.5 million; its shares sold at Rs 30.5, Haylays Leisure 1.5 million shares crossed for Rs 58.1 million; its shares traded at Rs 38.

Royal Ceramics one million shares crossed to the tune of 45.5 million; its shares traded at Rs 45.50, Lanka Milk Foods 682,000 shares crossed for Rs 41.4 million; its shares traded at Rs 61, Lanka Land and Developments one million shares crossed to the tune of Rs 41 million; its shares traded at Rs 41, Brown’s Investments Rs five million shares crossed for Rs 37 million; its shares traded at Rs 7.40, Sierra Cables one million shares crossed to the tune of Rs 25.5 million; its shares traded at Rs 25.50,Melstacorp 150,000 shares crossed for Rs 24.7 million; its shares traded at Rs 165 and Commercial Bank 105,000 shares crossed for Rs 20.2 million; its shares fetched Rs 193.

In the retail market top seven companies that mainly contributed to the turnover were; Alumax Rs 841 million (42.2 million shares traded), Sierra Cables Rs 343 million (13.2 million shares traded), Lanka Milk Food Rs 250 million (4.1 million shares traded), Aitken Spence Hotels Rs 184 million (1.9 million shares traded), JKH Rs 156 million (6.5 million shares traded), EB Creasy Rs 135 million (two million shares traded) and Haylays Leisure Rs 115 million (3.1 million shares traded). During the day 311 million shares volumes changed hands in 44000 transactions.

It is said that mixed sectoral reactions were noted during the day. The manufacturing sector, especially Alumax and Sierra Cables, were top contributor at the floor.

Yesterday, the rupee was quoted at Rs 302.07/12 to the US dollar in the spot market , weaker from Rs 301.97/302.07 the previous day, while bond yields were broadly steady, dealers said.

RS 74,000 million of Treasury bills are to be issued through an auction on Wednesday.

A bond maturing on 15.12.2028 was quoted at 8.98/9.08 percent, down from 8.98/9.10 percent.

A bond maturing on 15.12.2029 was quoted at 9.54/66 percent, down from 9.55/65 percent.

A bond maturing on 15.05.2030 was quoted at 9.50/60 percent.

A bond maturing on 15.12.2032 was quoted at 10.40/50 percent, up from 10.30/40 percent.

By Hiran H Senewiratne



Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Business

Climate compliance pressure mounts on Lankan businesses

Published

on

Lankan businesses are facing increasing pressure to strengthen climate governance, compliance, and risk management frameworks as climate-related disclosure requirements, investor expectations, and regulatory standards continue to evolve.

Against this backdrop, Genesis – the Dilmah Centre for a Sustainable Future will host a specialised post-summit technical workshop titled “Climate Action: A Strategic Executive Workshop on Climate Resilience and Business Continuity” on June 12, in Colombo.

The programme is designed as a continuation of discussions initiated at the Sri Lanka Climate Summit 2026 and will bring together sustainability managers, compliance officers, ESG professionals, risk specialists, and corporate decision-makers. It aims to translate climate commitments into practical business strategies.

The workshop will focus on implementation rather than advocacy, examining emerging disclosure frameworks, financing mechanisms, and regulatory pathways shaping corporate climate action in Sri Lanka.

Keynote speaker Dr. Lalanath de Silva, an internationally recognised environmental lawyer and governance expert, will address the evolving legal and compliance landscape influencing climate-related business decisions.

Technical sessions will cover IFRS S2 climate-related disclosures, climate risk governance, green finance opportunities, internal carbon pricing, and access to climate financing. Speakers will include climate risk specialist Rohan Cooray, Shiranee Yasaratne of Biodiversity Sri Lanka, and Suganthi Samarasinghe of UNDP Sri Lanka.

Organisers said climate readiness is increasingly becoming a business necessity rather than a sustainability option, with growing scrutiny from global markets and regulators.

Participation is free of charge, but prior registration is required due to limited seating for professionals in sustainability, governance, compliance, and risk management roles.

Continue Reading

Business

SPAR Sri Lanka Opens New Outlet in Kurunegala

Published

on

SPAR Sri Lanka has expanded its retail network with the opening of a new outlet in Kurunegala, marking another milestone in the supermarket chain’s growth across the country.

The new store, strategically located to serve the growing population of the North Western Province, offers a wide range of products, including fresh fruits and vegetables, premium meat products, bakery items, household essentials and both local and international brands.

The outlet also features several specialty sections, including a Coconut Corner, Wellness Corner and a dedicated area catering to pet care products.

Speaking at the opening, SPAR Sri Lanka Chief Executive Officer Kumar de Silva said the new outlet reflects the company’s commitment to delivering a “glocal” shopping experience by combining international retail standards with local customer preferences.

“Our Kurunegala outlet reflects our dedication to providing customers with the best range, superior quality and exceptional service under one roof,” he said.

The store also offers SPAR’s signature fresh food concepts, including in-store bakery products, ready-to-eat meals and freshly prepared juices aimed at meeting the needs of busy consumers.

The company said customers will benefit from a range of promotional offers, loyalty rewards, weekend deals and seasonal discounts.

SPAR Sri Lanka said the expansion would also contribute to local economic development through employment generation and support for local suppliers, further strengthening the country’s retail sector.

Pic and Text by SK Samaranayake

Continue Reading

Business

Royal end title drought with dramatic shootout triumph

Published

on

The victorious Royal College Under-20 hockey team pose with the championship trophy after emerging unbeaten champions of the All Island Under-20 Hockey Tournament at the Rajarata University Grounds in Mihintale. Front row (left to right): Ronal Edirimanne, Sulaiman Shihar, Gunitha Dissanayake, Dilsara Prabath, Kumuthulu Goonathilake, Savain Karunasiri, Vidu Wijesinghe, Seth Pathirathne, Pasindu Epa and Hirun Lindula. Back row (left to right): Stefan Anthonypillai, Geesath Bathisa, Haazim Dhailamy, Teacher-in-Charge Uditha Kumara, Coach Damith Panditharatne, Captain Aathif Faleel, Kithmina Rathnayake, Vice Captain Lithum Karunasiri, Nehan Wijayanayake, Yusuf Shihar, Ruvi Perera and Rumal Jayasinghe.

Royal College, Colombo, emerged unbeaten champions of the All-Island Under-20 Hockey Tournament after defeating defending champions St. Thomas’ College, Matale, in a nail-biting sudden-death penalty shootout at the Rajarata University Grounds in Mihintale last week.

The final ended in a 1-1 draw after Royal equalised five minutes from time to cancel out the Matale side’s earlier lead.

With the penalty shootout also ending in a 4-4 deadlock, the match proceeded to sudden death. The Reid Avenue outfit eventually prevailed in the second round of sudden-death penalties to clinch the title.

A brilliant save by goalkeeper Stefan Anthonipillai, who stretched to his right to deny a crucial attempt, and the decisive conversion by Rumal Jayasinghe helped Royal secure the Under-20 championship for the first time since the tournament’s inception in 2014.

Royal’s centre-forward Savain Karunasiri was one of the team’s standout performers throughout the tournament, scoring crucial goals, including strikes in both the semi-final and the final. Anthonipillai was equally impressive, guarding the goal superbly throughout the seven-match campaign.

Royal finished runners-up when the tournament was held in Matale last year.

The Colombo school produced a series of consistent performances despite having to play on an uneven grass surface that was not ideally suited to the fast-paced modern game.

Royal began their campaign with a 2-0 victory over Christ Church College, Matale, before defeating arch-rivals St. Thomas’ College, Mount Lavinia, 1-0. They then beat Kingswood College, Kandy, 2-0 and Maris Stella College, Negombo, 2-1 to top their group.

In the quarter-final, coach Damith Panditharatne’s side overcame fancied Dharmadutha College, Badulla, by 2-0.

Royal then edged out St. Joseph Vaz College, Wennappuwa, 1-0 in the semi-final, adopting a disciplined defensive approach against the aggressively attacking Puttalam outfit.

In the other semi-final, St. Thomas’ College, Matale defeated Trinity College, Kandy, 3-1. St. Joseph Vaz later beat Trinity 1-0 in the third-place playoff.

Panditharatne’s five-year development programme, with a strong emphasis on fitness, stamina and technical skills, played a key role in Royal’s success. The title marked Royal’s first national Under-20 tournament triumph since winning the National Schools Games in 2017.

A former national player, Air Force striker and Sri Lanka Police coach, Panditharatne has focused on addressing the weaknesses of individual players while building a cohesive unit. The former Christ Church College, Matale player has been coaching Royal since 2022 with the support of the Royal College Hockey Club (RCHC), comprising former Royal hockey players.

For his outstanding performances, Anthonipillai was adjudged the Best Goalkeeper of the Tournament. Royal College was also named the Most Disciplined Team of the Tournament.

Continue Reading

Trending