Connect with us

Business

Dollar selling rate of Rs. 200.06 having investors worried

Published

on

By Hiran H.Senewiratne 

CSE investors were reportedly worried yesterday over inflationary pressure on  manufacturing sector companies  due to   the current buying rate of the US Dollar  standing at Rs. 195.28 and the selling rate of the US dollar standing at Rs. 200.06.

This is the highest selling rate recorded for the US dollar since April 9, 2020. That day the selling rate of the US dollar stood at Rs.200.47. Further, the Central Bank is not in a position  to sell down its dollars   in order to protect current foreign reserves, which are only ample for three months for the country to survive, stock market analysts said.  

According to the daily exchange report of the Central Bank, this  is the third time in history that the selling rate of a US dollar has exceeded the Rs.200 mark. As a result, manufacturing sector companies’ cost of production tends to move up. In turn, those stocks will have a negative impact on the stock market, analysts said.

Amid those developments, the JKH share price slightly appreciated against the backdrop of arrangements relating to the development of the West Container Terminal of the Colombo Port.

JKH shares started trading at Rs. 148 and at the end of the day they moved up to Rs. 148.50, which was a 50 cents or 0.34 percent increase, stock market analysts said.

During the day the market started with marginal gains and began declining to 110 negative points. However, during the latter part of the day, CSE signalled some positive trends and closed at  40.71 negative points (All Share Price Index). S and P SL20 went down by 17,50 points. The top five companies in the retail market that mainly contributed to the turnover were, LOLC Rs. 183.7 million (620,000 shares traded), Expolanka Rs. 163 million (3.6 million shares traded), Browns Investments Rs. 159 million (31 million shares traded), Dipped Products Rs. 83.6 million (1.8 million shares traded) and Vallibel One Rs. 66.6 million (1.4 million shares traded). During the day, 83.3 million share volumes changed hands in 14912 transactions.CSE turnover stood at Rs. 1.23 billion.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business

Cabraal briefs Chief Incumbents on Port City Project Commission Bill

Published

on

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.

 

 

Continue Reading

Business

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

Published

on

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.

Continue Reading

Business

SriLankan Airlines welcomes Indian delegation to Sri Lanka

Published

on

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.

 

 

Continue Reading

Trending