Business
Heavy sellouts in CSE’s index-heavy counters
By Hiran H. Senewiratne
The CSE posted its third consecutive sharp fall yesterday amid relatively low investor activity but turnover was heathy and above average.
The market was highly volatile at the beginning of the session, witnessed some positive trends later on but finally turned negative because there were heavy sellouts in index heavy two counters in Expolanka Holdings and LOLC Holdings, stock market analysts said.
This heavy sell out situation was made use of by bargain hunters during the day and indices fell to three-week lows, recording a second consecutive session of losses due to price declines in heavyweight counters across sectors, market analysts said.
It is said the ASPI commenced the session with sharp volatility, dropping 165 points in early trade and immediately surged 173 points to reach an intra-day high of 13,218 (+7 points). Thereupon, the index trended downwards dragged by price declines in LOLC (-2.4 per cent), Samapth Bank (-2.1per cent) and Expolanka Holdings (-1.4per cent).
Amid those developments both indices showed a downwards trend. The All- Share Price Index went down by 180 points and S and P SL20 declined by 78.16 points. Turnover stood at Rs 7.6 billion with two crossings. Those crossings were reported in Chevron Lubricants, which crossed 252,000 shares to the tune of Rs 39.9 million, its shares traded at Rs 122.50 and Access Engineering 635,000 shares crossed for Rs 21.9 million, its shares traded at Rs 34.50.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Holdings Rs 2 billion (5.3 million shares traded), Browns Investments Rs 736 million (46.7 million shares traded), Softlogic Life Insurance Rs 613 million (four million shares traded), LOLC Holdings Rs 235 million (196,000 shares traded), DIMO Rs 220 million (157.000 shares traded), Hayleys Rs 215 million (1.5 million shares traded) and LOLC Finance Rs 205 million (eight million shares traded). During the day 232 million share volumes changed hands in 59000 transactions.
The Capital Goods sector was the top contributor to the market turnover (due to Access Engineering and Royal Ceramics) while the sector index lost 0.61 percent. The share price of Access Engineering recorded a gain of 80 cents to close at Rs. 35. The share price of Royal Ceramics declined by 70 cents (0.91per cent) to close at Rs. 76.
The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index decreased by 1.42 per cent. The share price of Expolanka Holdings decreased by Rs. 5.25 (1.37 per cent) to close at Rs. 377.
Separately, JKH, On’ally Holdings and JAT Holdings announced their interim dividends of 50 cents, Rs. 2.10 and 25 cents per share respectively.
Yesterday, the US dollar was quoted at Rs 202, which was the Central Bank controlled price to prevent price escalation of imported essential items in the country. The actual price of a US dollar would be more than Rs 250, market sources said.
Business
Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market
By Sanath Nanayakkare
Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.
Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.
He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.
“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.
Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.
Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.
Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.
Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.
Business
SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline
SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.
Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.
Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”
Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.
Business
JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50
JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.
As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.
JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.
Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.
Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”
JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.
As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.
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