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CSE trading halted due to circuit-breaker in the wake of massive selling pressure

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CSE trading was halted yesterday after a sensitive index dropped 5.30-pct 20 minutes after resuming its trading activities following massive selling pressure. This was also mainly due to US President Donald Trump’s tariff increase on imports entering the US market.

The market halted or witnessed a circuit- breaker due to the S&P SL20 index dropping over 5 percent from the previous close. This practice was in accordance with SEC Directive dated April 30, 2020,market analysts said.

Further, Asian markets were sharply down as the impact from Trump tariffs continued to shake investors, with Shanghai’s SSE Composite Index down 8.98 percent, Taiwan’s TAIEX down 9.70 percent, and Singapore’s Straits Times Index down 8.1 percent, reports showed.

“Accordingly, the market had been halted for 16 minutes (from 9.51 a.m to 10.07 a.m) and the CSE will conduct an Auction Session for a duration of 14 minutes (from 10.07a.m to 10.21 a.m). Thereafter, the Regular Trading session was commence at 10.21 a.m., the CSE said.

The more liquid S&P SL20 which tracks the larger companies opened down 264 points, while the All Share Price Index down by 698 points. Turnover stood at Rs 6.74 billion with four crossings. Those crossings were reported in DIMO, which crossed 903,000 shares to the tune of Rs 948 million and its shares traded at Rs 1050, JKH 9.9 million shares crossed for Rs 191 million; its shares traded at Rs 18.8, TJ Lanka 1 million shares crossed for Rs 44 million; its shares traded at Rs 44 and Access Engineering 1 million shares crossed for Rs 37 million; its shares traded at Rs 37.

In the retail market top six companies that mainly contributed to the turnover were; JKH Rs 737 million (39.3 million shares traded), Sampath Bank Rs 625 million (6.1 million shares traded), HNB Rs 605 million (2.2 million shares traded), Commercial Bank Rs 529 million (4.2 million shares traded), Digital Mobility Solutions Rs 230 million (3.2 million shares traded) and Browns Investments Rs 173 million (25 million shares traded). During the day 188 million share volumes changed hands in 35000 transactions.

Top negative contributors to the ASPI were Commercial Bank (down 8.58 percent at Rs 122.50), HNB (down 7.96 percent at Rs 269.00), Sampath Bank (down 5.9 percent at Rs 102.75), Melstacorp (ended 5.7 percent lower at Rs 120.25), and JKH (down 4.6 percent at Rs 18.70 ).

It is said that the manufacturing and banking sectors were the main contributors to the turnover. JKH was the top individual contributor to the turnover, which represents the manufacturing sector, while the banking sector was headed by Sampath Bank, followed by HNB and Commercial Bank.

Yesterday, the rupee opened at Rs 296.90/297.10 to the US dollar in the spot market , weaker from Rs 296.65/75 last Friday, dealers said, while bond yields were up.

A bond maturing on 15.02.2028 was quoted at 10.15/20 percent. A bond maturing on 15.12.2027 was quoted at 10.05/10 percent. A bond maturing on 15.12.2028 was quoted at 10.45/48 percent. A bond maturing on 15.09.2029 was quoted at 10.60/70 percent, up from 10.55/65 percent.

By Hiran H.Senewiratne



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The Kingsbury, Colombo Appoints Nandana Wirasinha as GM

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The Kingsbury announced on Friday the appointment of Nandana Wirasinha as its new General Manager. This pivotal appointment heralds an exciting chapter in the hotel’s journey as it continues to redefine excellence and innovation in Sri Lanka’s luxury hospitality landscape.

Wirasinha brings with him nearly three decades of international hospitality experience, having held senior leadership roles with some of the world’s most esteemed hotel brands. His distinguished career spans all facets of hotel management, including operations, revenue strategy, guest engagement, culinary excellence and operational efficiency. Of particular note are his accomplishments at Jumeirah Hotels & Resorts in Dubai and Abu Dhabi, where he played a key role in delivering benchmark-setting service and guest satisfaction.

Renowned for his ability to build high-performing teams and drive sustained revenue growth, Wirasinha has a proven track record of elevating service standards across the board. During his tenure in the UAE, he led multiple award-winning restaurants in Abu Dhabi, four of which received the coveted Triple Black Hat status in the prestigious ‘What’s On Abu Dhabi Black Hat Guide’—widely considered the region’s equivalent of the Michelin Guide. His leadership has consistently translated into enhanced guest satisfaction, operational excellence, and outstanding business performance.

A committed lifelong learner, Wirasinha is an alumnus of Cornell University with a Certificate in Hotel Real Estate Investment and Asset Management. He also holds an Associate of Arts Degree in Tourism and Hospitality from The Emirates Academy, has completed the Cornell CXO Leadership Programme, and is currently pursuing a Master’s in Business Management at the Postgraduate Institute of Management, Sri Lanka.

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Sri Lankan F&B Exporters Participate in Toronto trade show

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More than 15 Sri Lankan food and beverage export companies participated in the SIAL Canada 2025 trade show held at Enercare Exhibition Centre, Toronto, from April 29 to May 1, the SL consulate in Toropnto said.

SIAL Canada is one of the major annual trade shows in the food and beverage sector in Canada, attracting over 1,000 exhibitors and brands from 44 countries, with more than 21,000 professionals from 77 countries in attendance, and representation from all Canadian provinces.

The Consul General visited the trade show and met with the representatives of Sri Lankan companies supporting their efforts to expand their business network with key supply chains and leading retail business entities in the Canadian market.

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ComBank launches timely vehicle leasing promotion

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As new vehicles begin arriving in the country after a lapse of several years, the Commercial Bank of Ceylon has announced it will support the aspirations of vehicle buyers with an attractive leasing package for a limited duration.

The Bank said it would offer special interest rates, customized payment plans, discounts on first-year insurance premiums, a waiver of 50% on commission fees with a minimum charge of Rs 10,000 on Letters of Credit opened, and a free credit card with joining fee and the first year’s annual fee waived off, for leasing facilities obtained before 31st May 2025.

Quick and hassle-free approval of leasing facilities and special discounts on vehicle spare parts would also be part of the package for these customers, the Bank said. These special benefits would apply to leases of unregistered vehicles.

Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598 for every Rs 100,000 for a seven-year lease.

Commercial Bank leasing customers have the option of tailor-made leasing options that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.

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