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CSE trading halts once again; indices dip

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By Hiran H.Senewiratne 

Regular trading at the CSE was temporarily halted for 30 minutes from 1.28 p.m. to 1.58 p.m yesterday as the S&P SL20 index dropped by 5 percent  during the trading session. After the service breaker trigger, the market began to recover but during the latter part of the day, due to selling pressure, market recovery faded away, market analysts said.

It is said that the S&P SL20 index fell by 131.42 points to 2,898.37 and the All Share Price Index (ASPI) also fell by 268.30 points to 7,229.21. 

Standard Chartered Bank and Barclays Bank – two global banks and managers of former international sovereign bonds (ISBs) – said they are “underweight” on Sri Lanka, flagging off concerns over the country’s debt sustainability, repayment and external reserves. Sri Lanka also began facing a crucial session of the UN Human Rights Council in Geneva, which negatively impacted investor sentiment.

Despite the negativity, CSE saw a welcome net foreign inflow of Rs. 42.3 million as against an outflow of Rs. 284 million on Friday. Year to date net foreign outflow has crossed the Rs. 12 billion mark.

Amid those developments, turnover stood at Rs. 2.83 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed 500,000 shares to the tune of Rs. 78 million and its shares traded at Rs. 156, Commercial Bank 650,000 shares crossed for Rs. 56.7 million, its shares traded at Rs. 86 and Access Engineering one million shares crossed for Rs. 24 million, its shares trading at Rs. 24.

In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 364.5 million (8.8 million shares traded), Browns Investments Rs. 286 million (52.2 million shares traded), Dipped Products Rs. 268 million (5.3 million shares traded), LOLC Rs. 209.6 million (573 million shares traded) and Haycarb Rs. 151.7 million (1.5 million shares traded). During the day, 134.4 million share volumes changed hands in 20206 transactions. 

  Sri Lanka’s rupee quoted stronger at 193.50/00 to the US dollar in the spot market on Tuesday, dealers said. The rupee last closed in the spot market at 193/194.25 to the dollar on Monday.



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Business

Seylan Bank offers amazing discounts for Avurudu

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With Avurudu just around the corner, Seylan Bank PLC is offering amazing discounts to customers purchasing daily essentials, electronics, clothing, gifts, and more. The bank with a heart will celebrate the New Year with “Ratatama Super, Avurudu Offers with Seylan Cards” and “Seylan Tikiri – Season of Gifts and Laughter”.

The bank with a heart, commenced these exciting offers and promotions to provide the best Avurudu experience to its customers young and old, and to reward them for their continued loyalty to the bank, in the spirit of festivity.

“At Seylan Bank, we want to make your Avurudu an unforgettable experience,” said Gamika De Silva, Assistant General Manager, Marketing and Sales at Seylan Bank. “These two promotions underscore our customer-centric approach which focuses on providing products and services that enhance the overall customer experience and convenience, adding value to your experience with the Bank with a Heart.”

The Bank has partnered with leading supermarket chains on selected promotions; with Keells offering 30% off on fresh meat during the weekends, Cargills providing 20% off on total bills during selected weekends, Glomark offering 20% off on the total bill on every Sunday for a limited time, Laugfs Super providing 20% off on a range of goods on every Monday for a limited time, and Premasiri Supermarket offering 20% off on vegetables & 10% off on fruits on every Wednesday & Thursday during the promotion period.

 

 

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OPPO launches Avurudu song to spread seasonal cheer

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OPPO recently launched an Avurudu jingle ahead of the Sinhalese & Tamil New year. Sung by OPPO brand ambassador & The Voice coach Umaria Sinhawamsa, the song also features popular personalities including actor& singer Gayan Gunawardena and choreographer Ramod Malaka& his dance troupe, Cool Steps.

The visual for the song has been shot in a scenic village atmosphere & features a host of New Year traditions of great cultural significance. The video also features the newly launched fan-favorite OPPO F19 Pro which is on offer during the season. On the first day of sales alone, the F19 Pro recorded a 200% increase in sales compared to its predecessor F17 Pro.

CEO of OPPO Sri Lanka Bob Li said: “This project helped us to immerse into Sri Lankan culture better. In keeping with the spirit of the season, evolving & upgrading, OPPO has launched two concurrent promotions: ERABADU WASI from 2-13 April & OPPO SERVICE WASI from 5 – 18 April.”

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SLIM elects new president and EXCO at 51st AGM

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The Sri Lanka Institute of Marketing (SLIM) held its 51st AGM, which saw the induction of its new President Thilanka Abeywardena, who will spearhead the Institute as its 43rd president. This appointment is a milestone in the history of the Institute as Ms. Abeywardena became the first ever female to hold the position of President.

The AGM was held on 7th April, 2021 at Marino Beach Hotel, Colombo. Both a new Council of Management as well as an Executive Committee were appointed during the meeting.

Thilanka currently holds the position of the CMO Lead, South East Asia Emerging Markets at Microsoft Sri Lanka (Pvt) Ltd. and leads marketing and communications across nine Asian countries; Bangladesh, Bhutan, Brunei, Cambodia, Laos, the Maldives, Myanmar, Nepal and Sri Lanka.

The newly appointed Executive Committee comprises ten experienced marketing professionals:

SLIM is the apex body for Marketing in Sri Lanka and has been promoting marketing excellence and elevating the status of marketing since 1970.

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