Connect with us

Business

Hartal drags stock market to negative territory

Published

on

By Hiran H. Senewiratne

CSE trading activities were dull yesterday due to the present uncertain political and economic situations. The hartal dragged the market to negative territory. The current conditions in the country are negatively impacting investor sentiment, stock analysts said.

The stock brokers index opened on a positive note but failed to hold on to it and scaled lower as the day progressed, since investors prefer to stay away from highly volatile markets and opt to adopt a cautious stance. Therefore, the stock market remained depressed for the third consecutive day dampening investor hopes of a turnaround, stock analysts added.

Amid those developments both indices showed a downward trend. The All- Share Price Index went down by 116 points and S and P SL 20 declined by 65.5 points. Turnover stood at Rs 777 million with a single crossing. The crossing was reported in Cargills Ceylon PLC, which crossed 513,000 shares to the tune of Rs 82 .2 million; its shares traded at Rs 160.

In the retail market top five companies that mainly contributed to the turnover were: Expo Lanka Holdings Rs 251 million (1.6 million shares traded), Aitken Spence Rs 47.2 million (695000 shares traded), Royal Ceramic Rs 44 million (1.5 million shares traded), Browns Investments Rs 41.9 million (7.7 million shares traded) and Lanka IOC Rs 38 million (1.1 million shares traded).

During the day 33.1 million shares change hands in 10,000 transactions.

Yesterday the Central Bank announced the official US dollar buying rate as Rs 361.72 and the selling rate as Rs 374.99. However, in the kerb market the US dollar rate exceeds Rs 400.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business

Wing Commander (Retd.) D. Pradeep S. Kannangara elected president, Industrial Security Foundation

Published

on

The Industrial Security Foundation (ISF) which acts as the sole organization in Sri Lanka to represent the Private Security industry having incorporated by an Act passed in the Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kannangara as its President for the years 2022/2023 at its 30th annual General Meeting which was held at the PIM Auditorium in Borella. Wing Commander Pradeep Kannangara was appointed President while 14 other members were appointed to the Executive Committee, strengthening the ISF in order to drive and uplift the standards of the private security industry in Sri Lanka.

He has served on the ExCo consecutively since 2012 under four different presidents where he held the positions of Senior Vice President during the last three consecutive years. He has also been a committed member of the ISF and was awarded prestigious coveted FISF title due to his many valuable contributions to the organization and the Private Security Industry in Sri Lanka in 2012.

Wing Commander Kannangara’s journey into private security began after a successful career in the Sri Lanka Air Force for over 24 years where he served in many capacities finally being the Officer Commanding of the Special Air Borne Force. A recipient of the Ranasura Padakkama (RSP) Gallantry award for his bravery, sacrifices and service to the nation by the President of the Socialist Republic of Sri Lanka in 1990. He holds a Master’s in business management from the Edith Cowan University, Perth, Australia too and serves as a Board Director in AB Securitas (Private) Limited in Sri Lanka and AB Securitas Bangladesh Limited.

Continue Reading

Business

Kitchen & Bedroom reaffirms its partnership with Häfele Sri Lanka

Published

on

(L-R) Pawan Singh- General Manager Sales & Marketing at Hafele Sri Lanka, Jurgen Wolf- Managing Director Hafele South Asia, Dr. Sacquaff- Group CEO Kitchen & Bedroom, and Manish Mahajan, Director Sales Hafele South Asia

Kitchen & Bedroom, a name synonymous in the interior designing and furniture sector in the country recently celebrated its long-standing partnership with Häfele Sri Lanka during the latter’s 12th year anniversary celebratory event, reaffirming its ambitious plans to further strengthen and explore the numerous opportunities available here.

Häfele Sri Lanka, part of Häfele India which is a wholly owned subsidiary of the Hafele Global network, is a technology partner for various projects and initiatives of Kitchen & Bedroom. Both the companies operate in the interior design space, sharing their cumulative knowledge and expertise to provide extensive and personalized solutions catering to domestic requirements.

‘We take great pride in our association with Häfele Sri Lanka having exchanged and collaborated on many projects both commercial and household. We share similar values such as providing high quality, sustainable, functional and customized solutions to our customers, and most importantly to guide them through every aspect and step of the project and how best we could bring out their desired design,’ said Dr. Sacquaff, Kitchen & Bedroom Group CEO.

Continue Reading

Business

DSI strengthens its islandwide presence with three new showrooms

Published

on

Amid the prevailing economic hardships faced by Sri Lanka, Sri Lanka’s premier footwear brand DSI recently expanded its islandwide presence in the country with the opening of three new showrooms in Kahawatta, Akuressa, and Chavakachcheri, with the aim of offering greater access to its diversified product range to a wider customer base.

Gracing the special occasion, the showrooms were declared open by D. Samson & Sons (Pvt.) Ltd. Managing Director Thusitha Rajapaksa, in the presence of Director Asanka Rajapaksa, General Manager Pradeep Samarathunga, National Sales Manager – Retail Sales Naleen Weerawardana, invitees, and well-wishers.

Speaking at the opening ceremony, Thusitha Rajapaksa stated: “We are excited about expanding DSI wings to three new locations. Despite the ongoing economic conditions of the country, we took a call to take a proactive measure to expand our islandwide presence. While it has been a challenge, the commitment and hard work of our team has made it possible to serve our loyal customers better, and we are confident that we will be able to continue these efforts in the future as well.”

DSI is renowned for its well-trained staff who offer exceptional customer service. The three new DSI showrooms prioritize providing a unique service and customer support to make purchasing further convenient for the customer.

Continue Reading

Trending