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CSE’s bearish run proving costly

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By Hiran H.Senewiratne

The CSE has seen a bearish run during the last few days and that has wiped off Rs. 475 billion in value in just 10 market days so far in February, with previous day adding Rs. 143 billion, stock market analysts said.. 

Yesterday the stock market witnessed some volatility in the morning and it fell by 190 points. Later it recovered but went down again. During the latter part of the day or last hour it signaled some stability and turned positive and closed with marginal gains, analysts said.

With these developments both indices moved upwards. All Share Price Index went up by 7.4 points and S and P SL20 rose by 18.9 points. This upward trend indicated some stability following its regulator, Securities and Exchange Commission’s, new rule to all stockbrokers and stock broking firms to report all credit that has been extended to investors, on a weekly basis. This created some panic in the market initially because stock brokers limited the credit extended to investors, market analysts said.

With this new rule the market moved downwards and some brokers recovered their funds and some reduced their credit to investors, analysts added.

Consequently, turnover stood at Rs 3.3 billion with two crossings. Those crossings were reported in Asiri Surgical Hospitals, which crossed 7.3 million shares to the tune of Rs 120 million, its shares traded at Rs 18 and Seylan Bank (Non Voting) one million shares crossed for 41 million, its shares traded at Rs. 41.

In the retail market, top five companies that mainly contributed to the turnover were; LOLC Rs 458 million (1.37 million shares traded), Haycarb Rs 220 million (2.1 million shares traded), Dipped Products Rs 212 million (3.5 million shares traded), Vallibel One Rs 205 million (3.4 million traded) and Hayleys Rs 201 million (2.99 million shares traded). During the day, 113.7 million share volumes changed hands in 27237 transactions.

It is said that the market was volatile throughout the day because investors have become worried with the spreading of the Covid 19 new variant and also because of the political uncertainty due to issues on the diplomatic front with China and India.

Sri Lanka rupee was quoted around 197.50/198.00 levels to the US dollar in the spot-next market on Wednesday, while bond yields quoted wider, dealers said.

The rupee last closed in one-week forward market at 197.50/198.50 levels on Tuesday. In the secondary market bond yields edged up drastically, dealers said.



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Cabraal briefs Chief Incumbents on Port City Project Commission Bill

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On the instructions of the President and the Prime Minister, State Minister of Finance Ajith Nivard Cabraal on April 19 visited the Asgiriya Chapter, the Malwathu Chapter and the Chief Prelates of the Amarapura and Ramanna Maha Nikayas and briefed them on the relevant draft commission bill on Port City Project.

Cabinet Minister Prasanna Ranatunga, Minister of State Lohan Ratwatte, Minister of State Kanaka Herath, MP Wasantha Yapa Bandara and MP Kokila Gunawardena were also present on the occasion.

 

 

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Growing importance of training for nurses taking care of patients with NCDs

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To keep pace with the rapid expansion and increasing complexity of elderly home healthcare, training needs of home healthcare nurses must be identified and subsequent training programs implemented. English Nursing Care conducts training sessions on a weekly basis covering a variety of care needs for Non-Communicable Diseases (NCD) such as diabetes. The World Health Organisation (WHO) record that NCDs are estimated to account for 75% of total deaths in Sri Lanka.

Furthermore, according to the Sri Lankan Ministry of Health “although people are living longer, they live more years suffering from disease and disability, mainly from NCDs; life expectancy at birth in Sri Lanka is 74.9 years but healthy life expectancy at birth is only 67.0 years.” This has a significant impact on quality of life.

English Nursing Care Sri Lanka works towards improving the quality of life of the elderly living with NCD’s by training nurses on the most advanced and developed methodologies brought through years of experience internationally and locally. Being responsible for the well-being of your loved ones is pivotal in the service they provide.

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SriLankan Airlines welcomes Indian delegation to Sri Lanka

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SriLankan Airlines in a bid to recommence Indian tourist arrivals to Sri Lanka under the proposed bio-bubble tourist arrival concept successfully completed a familiarization tour for Indian media and travel trade professionals recently. A delegation of tour operators, agents, and senior editors representing influential media institutions concluded a familiarization tour in Sri Lanka.

The delegation spent six nights and seven days touring the country while being subjected to mandatory PCR testing and other health guidelines imposed by the Ministry of Health. Upon arriving in Sri Lanka, the delegation toured the most sought-after local tourist sites including Dambulla, Kandy, Nuwara Eliya, and Bentota. The tour was initiated by SriLankan Holidays and the ground arrangements for the tour were handled by Jetwing Travels, Aitken Spence, Sri Lanka Convention Bureau (SLCB), and Hamoos Travels.

The main purpose of their participation in this fam tour was to restore confidence in visiting Sri Lanka, especially among the Indian tourists to provide them in-depth knowledge on how the country’s tourism industry operates under the bio-bubble concept. Apart from visiting various places, they experienced the stringent health and safety protocols adopted by the country in resuming tourism under the “bio-bubble” concept allowing tourists to roam around without mixing with the local population.

During their stay here, the delegation was hosted for a virtual meet-and-greet with SriLankan Airlines Chairman Ashok Pathirage, Chief Executive Officer Vipula Gunathilleka, and Head of Worldwide Sales & Distribution Dimuthu Tennakoon. The discussion focused on the airline’s operations to India, vaccination and quarantine travel arrangements between the two countries, current safety measures, and guidelines pertaining to the bio-bubble concept. They lauded the effort taken by officials to make their trip a memorable one.

The Indian delegation was highly impressed with the opportunities they were given to travel and explore the country and its exclusive holiday prospects for the enthusiastic traveller. This fam tour was a manifestation of the immense potential of Sri Lanka as a post-covid travel destination enticing the Indian traveller.

 

 

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