Connect with us

Business

Corporate quarterly results impact CSE positively

Published

on

By Hiran H.Senewiratne

CSE remained buoyant with healthy turnover and gains in indices, though small in comparison to recent sessions. Yesterday the market was positive at the end of the day’s trading but during the first half of the day profit- takings were noted specially among previous day’s bull runners. But subsequently the market turned positive due to favourable quarterly results in most companies, stock market analysts said.

But tile sector counters showed some heavy buying interest due to import restrictions on tiles. As a result, the demand for local tile suppliers has gone up. Amid those developments both indices showed an upwards trend.

The All-Share Price Index gained 30.7 more points or 0.2 per cent and the S&P SL20 rose by 24.29 points or 1 per cent. Turnover was Rs. 4.9 billion with six crossings. Those crossings were reported in HNB, which crossed 1.2 million shares to the tune of Rs 192 million and its shares traded at Rs 160, Commercial Bank 600,000 shares crossed for Rs 53.4 million, its shares traded at Rs 89, Chevron Lubricants 375,000 shares crossed for Rs 43.1 million, its shares traded at Rs 115, Sampath Bank 500,000 shares crossed for Rs 28.5 million, its shares fetched Rs 57, Royal Ceramic 500,000 shares crossed for Rs 28 million, its shares traded at Rs 56 and Lanka IOC one million shares crossed for Rs 26.5 million, its shares fetched Rs 26.50.

In the retail market, five companies that mainly contributed to the turnover were, Expolanka Holdings Rs 1.1 billion (5.2 million shares traded), JKH Rs 342 million (2.3 million shares traded), Chevron Lubricants Rs 317 million (2.7 million shares traded), Royal Ceramic Rs 217 million (4.7 million shares traded) and Browns Investments Rs 248 million (22.5 million shares traded). During the day 121 million share volumes changed hands in 34000 transactions.

It is said that the ASPI managed to end in positive territory for the eighth straight session after overcoming a bout of volatility during the day. Further, high net worth and institutional investor participation was noted in Distilleries. Mixed interest was observed in Expolanka Holdings, Royal Ceramics and ACL Cables, while retail interest was noted in Browns Investments, Kotagala Plantations and SMB Leasing non-voting.

Yesterday, the US dollar was quoted at Rs 200.65, which was a controlled price set by the Central Bank.



Continue Reading
Click to comment

Leave a Reply

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

Business

Passport Office collaborates with banks to boost international monetary transfers from migrants

Published

on

Central Bank Governor, Ajith Nivard Cabraal hands over a new account to a young migrant worker which he opened at the new HNB counter at the Passport Office yesterday, where Jonathan Alles, Managing Director/Chief Executive Officer of HNB was present. Pic by Thushara Athapaththu

by Sanath Nanayakkare

People’s Bank, National Savings Bank , Sampath Bank, Hatton National Bank and Commercial Bank of Sri Lanka yesterday established new banking counters at the Department of Immigration and Emigration, at ‘Suhurupaya’, Battaramulla.

The initiative is intended support the Central Bank’s ongoing effort to boost the country’s foreign reserves by offering migrant workers access for safe, official remittance channels from the time they obtain new passports or renew their passports for international jobs.

Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka who was the chief guest of the opening ceremony said,” A lot of Sri Lankans go overseas for jobs and send their hard-earned money to Sri Lanka. Sometimes they face various issues when remitting money. So we thought we should provide the opportunity for them to open an account as they obtain their passports at the passport office which they can operate with greater ease and trust when sending money to their families from abroad. The Controller of Immigration and Emigration, his staff, the officials at the Central Bank and at other relevant banks worked in unison to establish their counters here just within a week. This shows that government institutions can collaborate with the private sector and quickly accomplish any task for the benefit of the country and its people. Our hard-working migrant workforce will enjoy the convenience and reliability of this service. As a result of it, more foreign money will flow into the country and the nation will reap benefits from it,” he said.

Workers’ remittances have been a key pillar of Sri Lanka’s foreign currency earnings that has nearly 100 per cent of domestic value addition, providing a substantial cushion for external sector resilience of the country. Workers’ remittances have covered around 80 per cent of the annual trade deficit over the past two decades, and strengthening remittances inflows to the country brings several socio-economic benefits including the smooth supply of forex inflows to the formal banking system.

The Central Bank of Sri Lanka established a new department named ‘Foreign Remittances Facilitation Department’ with effect from November 3, 2021 to facilitate and streamline workers’ remittances inflows to the country.

Continue Reading

Business

SLT-MOBITEL powered SLIOT Challenge 2020 and IESL RoboGames 2020 fostering innovation

Published

on

SLT-MOBITEL, the National ICT, Telecommunications and Mobile Services Provider was the proud sponsor of SLIoT Challenge 2020 and IESL RoboGames 2020, championing innovation in Internet of Things (IoT) and robotics to reward and further develop a pipeline of tech talent and critical skills among Sri Lanka’s youth. The winners of the competitions were honoured at a special ceremony held recently.

SLIoT Challenge 2020 and IESL RoboGames 2020 was a collaborative effort between SLT-MOBITEL, the Department of Computer Science & Engineering of the University of Moratuwa and the IT and Computer Engineering Sectional Committee of Institution of Engineers of Sri Lanka (IESL). Recognising the value of promoting digital inclusion among youth and to develop new generation technology concepts, SLT-MOBITEL sponsored the event for the fourth consecutive year. Both competitions encourage technological innovation among youth which in turn provides avenues for SLT-MOBITEL to capitalize on its futuristic thinking towards a connected future.

The SLIoT Challenge 2020 theme centred around the current pandemic ‘Overcoming COVID-19 with IoT’ and over 77 submissions were received. SLT-MOBITEL comprehends that IoT is being widely embraced with the number of connected devices growing rapidly. SLT-MOBITEL recognizes that driving an IoT competition for Sri Lankan youth allows students to unleash their potential in the IoT domain and acts as a gateway to support the country’s evolution towards digital transformation.

Continue Reading

Business

Akshata launches unique new tea blends

Published

on

Akshata brand, a pioneer in promoting health and wellness the traditional way presents herbal tea alongside honey/jaggery as an alternative to sugar, redefining tea consumption.

Akshata ‘Ranawara’ herbal tea which promotes clear skin and health benefits for the body is dedicated to Queen Soma Devi who was acclaimed for her beauty, bravery, and sacrifice to save King Valagamba in 77 BC.

Managing Director of Grains N Green, Roshan Perera says, “In addition to the myriad of health benefits, consumers are encouraged to experience a taste of nostalgia with each sip of Akshata herbal tea. Today’s health-conscious consumers increasingly buy items that support their nutrition and fitness. Sugar is no longer included in this list due to its negative impact on one’s health. That’s why we have introduced healthy alternatives for sugar. Putting honey or jaggery in tea is a much healthier choice than using sugar as it does not raise blood sugar levels as quickly, and with our product you can get the tea as well as

the sweeteners all in one pack. This saves time, money, and is a healthier alternative to drinking tea with sugar.”

Akshata herbal tea with bees honey/Jaggery is available at Spar and Glomark supermarkets and can also purchase online at askshatastore.com

Continue Reading

Trending