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CSE total market turnover hits Rs. 600 billion within first eight months of 2021

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By Hiran H.Senewiratne

Investor confidence in the Colombo Stock Exchange recorded an all-time high with the total market turnover touching Rs. 600 billion as at 24th August 2021 within the first 08 months of the year. Therefore, the investor sentiment has shown some significant improvement despite the country’s economic woes and the Covid 19 pandemic condition, CSE-Head of Marketing Niroshan Wijesundera said.

“Last year, the CSE’s total turnover reached Rs. 396.8 billion but this year we have surpassed last year’s total market turnover in less than eight months. Therefore, market trading activities have also increased by approximately 27.5 percent, Year-To-Date growth is seen in ASPI, Wijesundere told The Island Financial Review.

He said daily turnover marked the highest value for the quarter at Rs. 10.8 billion, recorded on the previous day. Yesterday the market turnover stood at Rs. 9.9 billion. The two days’ market turnover averaged Rs10 billion year to date; a 34 percent increase of active accounts compared to year 2020.

The CSE implemented the Delivery Versus Payment (DVP) Settlement mechanism on August 16, 2021. “The increased market participation and growth indicates how all the market participants have embraced the new trading systems and its operating infrastructure, Wijesundera explained.

“With the announcement of new policy rates, although a public reaction was exhibited soon after, the positive trajectory of the market indicates that the amended policy rates have not posed a negative effect on the market performance and activity, Wijesundere said.

CSE trading activates were bullish yesterday and a major contributor to the All Share Price Index was Commercial Leasing Finance, which contributed 124 points. Commercial Leasing Finance’s share price yesterday appreciated by 50 percent or Rs. 8.70. Its shares started trading at Rs. 17.50 and at the end of the day they shot up to Rs. 26.20.Expolanka Holdings, performed well on the previous day with noted profit taking but its share price depreciated by two percent or Rs. 2.75. It shares started trading at Rs. 122.75 but at the end of the day they came down to Rs. 120.

Amid those developments both indices moved upwards. All Share Price Index went up by 188.30 points to 8667.95 and S and P SL20 rose by 24.44 points. Turnover stood at Rs. 9.95 billion with three crossings. Those three crossings were reported in Cargills PLC where 730,000 shares crossed to the tune of Rs. 171.5 million and its share price traded at Rs. 235, HNB (Non Voting) 880,000 shares crossed for Rs. 100.4 million, its shares traded at Rs. 114 and JKH 630,000 shares crossed for Rs. 83.2 million, its share price being Rs. 132.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs. 1.59 billion (13 million shares traded),LOLC Finance Rs. 1.06 billion (86.3 million shares traded), Browns Investments Rs. 1.04 billion (133 million shares traded), LOLC Holdings Rs. 965 million (1.8 million shares traded), Hayleys PLC Rs. 956.8 million (10.8 million shares traded, Dipped Products Rs. 602 million (10 million shares traded) and Royal Ceramic Rs. 474 million (10.8 million shares traded). During the day 421.4 million share volumes changed hands in 62000 transactions.

LOLC Group now owns a 15 percent stake in SANASA Development Bank (SDB bank) following the conclusion of the bank’s Secondary Public Offering (SPO).SDB Bank said that when the issue closed last week, the SPO had drawn applications worth Rs. 3.69 billion; short of the desired Rs. 4.5 billion aimed at. The SPO received 111 applications requesting for 71.76 million shares.

It said Iconic Property Twenty Three Ltd., a fully owned subsidiary of LOLC Investments, has been allocated 24.1 million shares or 15 percent. Kotagala Plantations PLC’s Rs. 790 million Rights Issue has seen demand worth Rs. 1 billion, reflecting a successful oversubscription.

The Issue involved 263,287,500 Ordinary Shares at Rs. 3 per share on the basis of seven new shares for two held. The aim was to raise Rs. 790 million. Kotagala said the Rights Issue had been oversubscribed with total subscription received amounting to Rs. 1.01 billion inclusive of additional shares applied for. It said the information was subject to the realisation of cheques, bank confirmation, elimination of duplications (if any) and other verifications.

Consolidated Tea Plantations Ltd. owns 45 percent in Kotagala and related parties Lankem Tea and Rubber Plantations own 21.76 percent. The percentage of shares held by the public in Kotagala as of 30 June was 32.77 percent with 13,439 public shareholders.



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ADB pledges over $1 billion annually to Sri Lanka in post-cyclone recovery push

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ADB President Masato Kanda meets Sri Lankan Prime Minister Harini Amarasuriya at ADB’s Manila headquarters.

Asian Development Bank (ADB) President Masato Kanda met with Sri Lanka Prime Minister Harini Amarasuriya at ADB’s Manila headquarters recently. The meeting reaffirmed the strong development partnership between ADB and Sri Lanka, with both leaders underscoring their commitment to post-cyclone recovery, inclusive growth, and advancing women’s equality.

“Sri Lanka’s resilience in the face of crises has been remarkable,” said Kanda. “We are committed to helping Sri Lanka rebuild after Cyclone Ditwah, while also investing in the country’s future by empowering women entrepreneurs and strengthening education and essential skills.”

Looking ahead, ADB is ready to provide more than $1 billion annually to Sri Lanka from 2026 to 2029. This financing will target macroeconomic stability, private sector-led growth, education and skills development, and resilient infrastructure. Key initiatives include a major digital transformation program to help unlock Sri Lanka’s digital economy, alongside support for its accession to the Regional Comprehensive Economic Partnership to deepen its integration into regional trade and investment networks.

During their discussion, Kanda emphasized ADB’s response to the devastation caused by Cyclone Ditwah. Building on emergency financing already mobilized, ADB is fast-tracking an emergency assistance loan to restore damaged infrastructure and support affected livelihoods.

With Dr. Amarasuriya serving as the keynote speaker for ADB’s International Women’s Day event, the leaders highlighted women’s equality as a cornerstone of inclusive development. Kanda noted ADB’s long-standing work as an implementing partner of the Women Entrepreneurs Finance Initiative, which expands access to finance, business skills training, and policy reform for women-owned enterprises. This partnership has helped drive lasting change, with Sri Lanka becoming one of the first countries to adopt the Women Entrepreneurs Finance Code at the national level in March 2025.

Dr. Amarasuriya also engaged in dialogue facilitated by ADB to advance Sri Lanka’s skills agenda, including discussions on referencing skills and qualifications with the Association of Southeast Asian Nations and on mutual areas of interest with the Philippines related to technical and vocational education and training.

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New Board appointed to lead Unit Trust Association of Sri Lanka

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The Unit Trust Association of Sri Lanka (UTASL) announced its new Board of Directors, appointing Jeevan Sukumaran of SENFIN Asset Management as President. The Board assumes leadership at a time of significant growth and resilience in Sri Lanka’s Unit Trust industry. Over the past five years, the number of unit holders has more than doubled, while assets under management have grown substantially, reflecting a clear shift in investor behaviour amid evolving economic conditions.

The 2026–2027 Board includes Vice President Kavin Karunamoorthy (First Capital Wealth Management), Secretary Asanka Herath (Lynear Wealth Management), Assistant Secretary Gayan De Silva (Capital Alliance), and Treasurer Wishan Perera (Softlogic Invest).

President Jeevan Sukumaran highlighted the importance of expanding the industry’s reach and increasing retail participation nationwide. “Whilst the Unit Trust industry has grown significantly in recent years, the next phase must focus on broadening retail investor participation across Sri Lanka’s different geographic/demographic sectors, with the key priority being strengthening investor education and awareness, particularly outside major urban centres. Improving financial literacy and expanding access to professionally managed investment solutions are essential to building long-term confidence and encouraging more Sri Lankans to invest in unit trusts.”

The new Board intends to build on the industry’s recent momentum by prioritising investor education, digital accessibility, and product innovation. Over the coming years, enhanced digital platforms are expected to make Unit Trust products more accessible, enabling investors across the country to participate in capital markets in a convenient and transparent manner.

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Indiya at Cinnamon Life enters a flavourful new chapter

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Colombo’s vibrant dining landscape has received a fresh infusion of flavour with the renewed culinary direction of Indiya, the signature Indian restaurant perched high above the city at Cinnamon Life at City of Dreams. With celebrated Indian chef Mukesh Joshi now steering the kitchen, the restaurant is presenting a menu that celebrates the depth, diversity and soul of Indian cuisine while subtly weaving in Sri Lankan influences.

Located on the spectacular Level 23 of the sprawling Cinnamon Life complex, Indiya’s setting itself feels like a prelude to the culinary journey that unfolds at the table.

The restaurant’s sweeping views of Colombo’s skyline provide a dramatic backdrop to a menu designed to take diners across India’s many culinary regions — from the fragrant biryani traditions of Awadh to the bold spice profiles of coastal kitchens.

At the heart of this new chapter is Chef Mukesh Joshi, a culinary craftsman whose career spans some of India’s most renowned hospitality institutions as well as prominent dining establishments in the Middle East.

Having honed his skills at luxury hotels such as The Westin and St. Regis Mumbai before leading kitchens in Dubai’s thriving Indian dining scene, Joshi is known for his ability to balance traditional flavours with contemporary finesse.

At Indiya, his philosophy is simple yet compelling: celebrate the authenticity of Indian cooking while creating dishes that encourage sharing and conversation.

The experience begins with a vibrant array of small plates that capture the playful spirit of India’s street food traditions. The crisp Sev Papdi Chaat offers bursts of sweet, tangy and spicy notes, while a generous Pakora Platter brings together an assortment of golden-fried fritters that evoke the comforting flavours of roadside tea stalls across the subcontinent.

From there, the menu moves naturally into the world of the tandoor — the clay oven that lies at the heart of many Indian kitchens. Among the highlights is the Hariyali Tandoori Gobi, where cauliflower is marinated in a fragrant blend of herbs before being charred to smoky perfection. Equally intriguing is the Rajma Galouti, a vegetarian reinterpretation of the famed Lucknowi kebab, delivering a melt-in-the-mouth texture that surprises and delights.

Seafood lovers will find much to savour as well. Jhinga Koliwada, a coastal delicacy of spiced prawns fried to a crisp exterior, offers a lively contrast to the delicately seasoned Rawa Fried Surmai. These dishes reflect Chef Mukesh’s confident handling of spice and texture — two essential pillars of Indian cooking.

No Indian dining experience would be complete without the ritual of sharing freshly baked breads, and Indiya’s basket arrives warm and inviting. Chilli Cheese Naan brings a playful modern twist to a classic favourite, while flaky parathas and stuffed Aloo Kulcha provide comforting companions to the restaurant’s richly spiced curries.

By Ifham Nizam

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