Connect with us


Combined market value of listed companies skyrockets by Rs. 1 trillion thus far in 2021



By Hiran H.Senewiratne

CSE’s local and foreign investor participation levels yesterday were notable despite the raging COVID pandemic and associated challenges, especially the country’s current economic woes. Investor interest pushed the market to an all-time high with its gain in value reaching the Rs. 1 trillion mark so far in 2021, market analysts said.

The combined market value of listed companies has skyrocketed by Rs. 1 trillion so far this year as CSE’s market capitalization amounted to Rs. 3.97 trillion, up 34 percent year-to-date (YTD). CSE ended 2020 with a market capitalization of Rs. 2.96 trillion, stock market analysts told The Island Financial Review yesterday.

Despite all odds, the stock market was able to establish three records; i.e. the highest retail turnover in history, highest number of trades and the All Share Price Index crossing 9000 (9008.22 in the early session for the first time in history), analysts said. Amid those developments both indices moved upwards. The All Share Price Index went up by 58.81 points and the S and P SL20 rose by 28.01 points. Turnover stood at Rs. 16.5 billion with seven crossings.

Those crossings were reported in Dipped products, where 3.1 million share volumes changed hands at Rs. 202.1 million, its share price being Rs. 65, Hayleys 1.1 million shares crossed for Rs. 129 million, its share price being Rs. 120, Ambeon Holdings 1.5 million shares crossed for Rs. 73.5 million, its shares traded at Rs. 49, Browns Investments five million shares crossed for Rs.38.4 million, its shares trading at Rs. 61.30, Colombo Land Development 1.1 million shares crossed for Rs. 40 million, its shares trading at Rs. 8, Sanasa Development Bank 750,000 shares crossed for Rs. 37.4 million and HNB (Non Voting) 173,000 shares crossed for Rs. 21.6 mllion, its shares fetching Rs. 125.

In the retail market, five top companies that mainly contributed to the turnover were, Expolanka Rs. 5.05 billion (32.8 million shares traded), Browns Investments Rs. 2.8 billion (325 million shares traded), Hayleys PLC Rs. 1.5 billion (13.8 million shares traded), Dipped Products Rs. 1.4 billion (22.8 million shares traded) and LOLC Rs. 921 million (1. 5 million shares traded).

Yesterday the market rallied round Browns Group entities and those were; Browns Investments, Brown and Company and LOLC. Those companies witnessed fresh buying interest as well. Highest contributors to the All Share Price Index were, LOLC 64.2 points, Browns Investments 61.1 points and Hayleys 13. 8 points. Highest negative contributor to the All Share Index was Commercial Leasing and Finance, which contributed 62.9 negative points to the All Share Price Index. During the day 648.6 million share volumes changed hands in 78000 transactions.

It is said high net worth and institutional investor participation was noted in Lion Brewery Ceylon, Hayleys and HNB (non-voting). Mixed interest was observed in LOLC Holdings, Dipped Products and Sanasa Development Bank, while retail interest was noted in Browns Investments, Lanka Orix Finance and Expolanka Holdings.

Continue Reading
Click to comment

Leave a Reply

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


DFCC Bank’s Ranwarama pawning facility lends a helping hand to those with urgent cash requirements



DFCC Bank has increased the advances of its “DFCC Ranwarama” Pawning Facility as a solution for families to meet their urgent cash requirements as many families are experiencing financial difficulties due to the COVID-19 outbreak that has had a significant impact on the Sri Lankan economy.

Through this scheme, all Sri Lankan citizens over 18 years of age with the contractual capacity to declare themselves as owners of the articles can now pawn gold or gold jewellery. DFCC Bank accepts jewellery made of 18 Karat -24 Karat gold, with the articles being assayed using the latest available equipment. Items of 24 Karate will hold an advanced value of LKR 82,000/-, while 22 Karat pieces will hold an advanced value of LKR 68,000/- at an interest rate of 0.75% per month. Those who engage in these transactions are provided a maximum of 12 months to settle the pawning advances at their convenience.

DFCC Bank’s Ranwarama Pawning Facility offers many other special features including the highest advance amount at competitive rates of interest, confidentiality and guaranteed security for the articles, flexible payment plans with redemption options when required and redemption without prior notification. All of these facilities are available with no hidden charges, offering customers the best service available in the market.

You may visit a DFCC Bank branch closest to you to transact or visit the Bank’s website at for further information. Customers can also contact DFCC Bank’s 24-hour contact center on +94(11)2350000 for further inquiries.

Continue Reading


HSBC Sri Lanka recognised as the Best Consumer Digital Bank by Global Finance



HSBC has been recognised as the Best Consumer Digital Bank in Sri Lanka for 2021 by Global Finance at the World’s Best Consumer Digital Banks Awards in Asia-Pacific. While this is the bank’s fourth award win for this year, this also marks the 13th time that HSBC Sri Lanka has been named the Best Consumer Digital Bank, since 2006.

HSBC Sri Lanka is also the only market in Asia Pacific to win the prestigious award this year.

According to Global Finance, the global health crisis accelerated the need for digital and contact-free solutions by banks in helping create safe and efficient banking services for customers. HSBC Sri Lanka was quick to react in supporting customers in providing seamless digital bank offerings in an increasingly demanding environment, while ensuring customers have a secure banking service with a full spectrum of client-centric banking services.

Through its wealth of digital capabilities and offerings, HSBC allowed customers to adopt a mobile-first approach, and provide them with faster, easier and more secure banking services 24/7. The bank introduced a virtual on boarding capability for account opening, loans and credit cards supported by Adobe Live Sign, eKYC and virtual PINs to provide a seamless on boarding experience for customers. HSBC also offers credit card activation through SMS and an e2e virtual registration process for online banking, offering a virtual banking experience.

In Sri Lanka more than 90% of its personal customers now use digital channels including mobile banking, e-wallets, real-time cash deposit machines and other digital services.

Nadeesha Senaratne, Country Head of Wealth & Personal Banking said, “We are truly honoured to be named the Best Consumer Digital Bank in Sri Lanka for 2021 by Global Finance in recognition of our digital capabilities, and delivering important everyday services and features that customers need and expect. As a leading international bank, we are putting the power of our bank in every customer’s pocket, with easier and more secure digital banking. We want to take the hassle out of everyday banking, and enable customers to easily manage their money online, from opening a new account in a few clicks, to making real time payments and accessing credit.”

Senaratne added: “We’re also blending the power of technology with the expertise of our people and empowering our frontline teams with the latest data and insights tools, to be better-equipped to check customer satisfaction in the moment, to understand, and respond to their evolving needs and give customers excellent service.”

Winners were selected by a world-class panel of judges and entries were judged based on the strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings and evidence of tangible benefits gained from digital initiatives.

Earlier this year, HSBC Sri Lanka was also named International Bank of the Year by Asiamoney and Finance Asia respectively, and International Retail Bank of the Year by Asian Banking & Finance.

Continue Reading


BoardPAC appointed Strategic Partner of Commonwealth’s Business Network – CWEIC



BoardPAC, the Sri Lanka-based multinational Board meeting automation solutions company, has been appointed a Strategic Partner of the Commonwealth Enterprise and Investment Council (CWEIC), the organisation officially mandated by the Commonwealth Heads of Government to promote trade and investment between the 54 Commonwealth member countries.

This prestigious appointment will see CWEIC relying on BoardPAC’s award-winning solutions to conduct board and committee meetings with members and maintain relationships across the Commonwealth network at a time when the global pandemic’s complete disruption of business activity has resulted in a surge in the demand for efficient board meeting automation.

The Company said the partnership will also effectively promote the BoardPAC platform to new users and facilitate its expansion into new territories and focus markets. BoardPAC already has a global user base in excess of 50,000 and a presence in more than 40 countries.

Noting that BoardPAC’s latest partnership serves as yet another testament to the quality of its solutions, BoardPAC Co-Founder/CEO, Lakmini Wijesundera stated: “Our growth plan includes expanding our worldwide network, and our strategic alliance with CWEIC will strongly help us extend our presence into Commonwealth territories. The strategic cooperation between CWEIC and BoardPAC is especially relevant in light of the worldwide pandemic, and the emerging need for secure remote working and filling the void in virtual board meetings.”

CWEIC Chairman, Rt. Hon. Lord Jonathan Marland said: “We are looking forward to work closely with BoardPAC. The alliance will not only help CWEIC to conduct virtual board meetings securely and safely, but also align ourselves with all governance, risk and compliance as well as environmental, social, and governance frameworks.” Echoing this sentiment, CWEIC Deputy Chair, Sir Hugo Swire stated: “We are excited to partner with BoardPAC and extend modern digital governance and compliance solutions to organisations operating in the Commonwealth.”

Disclosing that BoardPAC’s excellent track record inspired confidence within the CWEIC to implement its solution on a global scale, CWEIC Chief Executive, Samantha Cohen CVO added: “We’re delighted that BoardPAC, one of the most renowned virtual board meeting automation providers in the world, joined our network of Strategic Partners. BoardPAC will add significant value to our board and committee meetings, allowing the CWEIC to conduct meetings with its members throughout the Commonwealth more effectively. The partnership also demonstrates the opportunities within the Commonwealth, and the confidence businesses have towards the Commonwealth and CWEIC.”

A commercial, not-for-profit membership organisation, the Commonwealth Enterprise and Investment Council’s network includes around 100 business and government Strategic Partners (members) including Standard Chartered, Zenith Bank, Trade & Investment Queensland and the Government of the Maldives from 30 countries and territories. Every two years, CWEIC hosts the Commonwealth Business Forum in association with the host country of The Commonwealth Heads of Government Meeting (CHOGM).

BoardPAC is an award winning, multinational, paperless board meeting automation solutions provider, recognised for driving simple, secure, sustainable and experiential communications for Board and Executive members. Leading corporates such as Petronas, Deloitte, EY, Mercedes Benz, Prudential, Hong Leong Group, Stock Exchange of Malaysia, Central Bank of Sri Lanka, Bombay Stock Exchange, Bank Negara, Maybank, Power Grid Corporation of India, Colombo Stock Exchange, and Sri Lankan Airlines are just some of BoardPAC’s success stories, and the Company said the partnership with the CWEIC will pave the way to several more high-profile additions to this list.

Continue Reading