By Hiran H.Senewiratne
The CSE witnessed mixed reactions yesterday following two extreme heated sessions last Friday and Monday but could not maintain its momentum as profit takings took place across the board, specially in the LOLC Group of companies. However, the banking sector performed well yesterday, stock market analysts said.
The All Share Price Index went down by 113.69 points and S and P SL20 rose by 55.73 points. Those companies which affected the All Share Price Index were LOLC, whose shares started trading at Rs. 265.25 and at the end of the day they moved down to Rs. 230. Its share price went down by Rs. 35.25 or 13 percent.
Expolanka shares started trading at Rs. 53.80 and at the end of the day they moved down to Rs. 50, which was a Rs. 3.80 or 7 percent fall, Browns Investments (LOLC Group) started trading at Rs. 7.30 and at the end of the day it moved down to Rs. 6.90, which was a 40 cents or 5.5 percent price fall, LOLC Finance (LOCL Group) shares started trading at Rs. 9.40 and at the end of the day they moved down to Rs. 7.80, which was a Rs. 1.50 or 19 percent fall. Commercial Leasing shares started trading at Rs. 10.60 and at the end of the day they moved down to Rs.9, which was a Rs. 1.90 or 19 percent decline.
Amid of those developments banking sector counters, especially Commercial Bank, Sampath Bank, HNB and Pan Asia Bank performed well and their shares also appreciated significantly during the day. Commercial Bank share prices started at Rs. 88.70 and at the end of the day they moved up to Rs. 96.20.Its price appreciated by Rs. 6.30 or seven percent. Sampath Bank shares started trading at Rs. 146.75 and at the end of the day moved up to Rs. 162, which was a Rs. 12.25 or eight percent price appreciation, HNB shares started trading at Rs. 132.50 and at the end of the day they moved up to Rs. 139, which was a Rs. 4.50 or 3.4 percent price appreciation and Pan Asia Bank shares started trading at Rs. 15 and at the end of the day they moved to Rs. 18.69, which was a Rs. 3.60 or 24 percent price appreciation.
Yesterday the turnover stood at Rs. 11.4 billion with six crossings. Those crossings were reported in Commercial Bank, which crossed two million shares to the tune of Rs. 180 million and its share traded at Rs. 90, HNB, 950,000 shares crossed for Rs. 125.5 million, its shares traded at Rs. 129, Dialog 5.8 million shares crossed for Rs. 73 million its share traded at Rs. 12.60, JKH 400,000 shares crossed for Rs. 64.8 million, its shares traded at Rs. 162, Central Finance 500,000 shares crossed for Rs. 44 million, its shares traded at Rs. 88 and Renuka Capital 2.5 million shares crossed for Rs. 20.5 million, its shares traded at Rs. 8.20.
Further in the retail market top six contributors to the turnover were; Browns Investments Rs. 1.47 billion (210 million shares traded), Access Engineering Rs. 1.04 billion (32.2 million shares traded), Expolanka Rs. 991 million (19.4 million shares traded), LOLC Holdings Rs. 574 million (2.3 million shares traded), HNB Rs. 561 million (4.1 million shares traded) and JKH Rs. 541 million (3.4 million shares traded). During the day 690 million share volumes changed hands in 63438 transactions.
Sri Lanka’s rupee was quoted around 194.50/196.00 in the spot-next market on Tuesday while bond yields eased, dealers said. Rupee last closed around 194.50/195.00 in the spot-next market on Monday against the greenback.
New building extension for William Angliss Institute @ SLIIT
The William Angliss Institute @ SLIIT, a joint venture between William Angliss Institute, Melbourne and the SLIIT campus, Malabe, recently expanded their footprint in Sri Lanka by declaring open a new building extension with the participation of six Australian Board Members of the William Angliss Institute. Chairman and board members of the Sri Lankan franchise and other distinguished invitees too were present at the event. Judith Slevison – Board Secretary, William Angliss Institute, Australia declared open the building by cutting the ribbon, following which the distinguished guests were ushered to the Hot Kitchen, situated at the third floor of the institute where they lit the traditional oil lamp in accordance with the local customs.
Addressing the students at the Institute, Nicholas Hunt – Chief Executive Officer, William Angliss Institute @ SLIIT and Anuk Weerasinghe – Managing Director spoke of the exciting opportunities before them as tourism across the world rapidly recovers from the pandemic. The contributions of Chairman Errol Weerasinghe, Management and Staff of the William Angliss Institute @ SLIIT were also lauded by Hunt and Weerasinghe. Following the opening ceremony, the guests were taken to the second floor Patisserie Kitchen where they were served with Sri Lankan morning tea. The event concluded with a celebratory lunch for all guests, that followed a tour of the building. The new Building Extension contains two kitchens (Hot Kitchen and Patisserie) that are equipped with latest European culinary equipment.
Other facilities include three classrooms, larger food stores, and modern washrooms/ changerooms. The institute is currently putting the last touches to a Roof Top Training Bar/ Student Recreation area. The new facilities enhance the teaching capacity of this center dedicated for Hospitality, Culinary Arts, Tourism Studies, and Events, as well as the quality of student life, which in turn helps the institute reach its objective of creating career ready graduates.
Dialog enables Digital Stock Trading on CSE via its Genie Fintech
=First platform in Sri Lanka to enable end-to-end digital onboarding and trading
Sri Lanka’s premier fintech app, genie, powered by Dialog, has launched an innovative feature that allows its users to set up a Central Depository Systems (CDS) account, add money, place orders to buy and sell stocks on the Colombo Stock Exchange (CSE) and withdraw funds from their trading account maintained with the broker, and manage their stock portfolio, all from the convenience of their mobile phone. Softlogic Stockbrokers Pvt Ltd [SSB] is the first broker to partner with genie in providing these brokering services within the app.
Customers can trade in shares listed on the Colombo Stock Exchange (CSE) by using the buying and selling features on the Genie app during market hours and also they can place orders during off-market hours. Any trades input to genie after the market is closed will be placed on the CSE order book on the next trading day. Genie provides customers with simple and easy input screens to place the orders to buy and sell stocks by entering the price and quantity of each trade.
“As Sri Lanka’s premier Fintech app, we are pleased to have contributed to the widening of the retail investor base in Sri Lanka and to enable investors to gain access to the stock market and start investing and trade in stocks.” Renuka Fernando, Group Chief Digital Services Officer of Dialog Axiata PLC said. “We are confident that as we widen access, there will be better understanding and participation in our Capital markets. We will continue to foster good investment habits and educate our customers with easy access to market information. Self-directed investing is the logical extension of the genie platform which aims to democratize financial products and wealth management”, she further stated.
“We are pleased to have partnered with genie, Sri Lanka’s premier Fintech app, where customers can experience end to end digital journey from opening a CDS account to trading. We look forward to work with Genie in expanding our reach in the digital economy of Sri Lanka, whilst providing the best customer experience.” Dihan Dedigama, Director / Chief Executive Officer, Softlogic Stockbrokers said.
Unilever Sri Lanka wins Youth Focus Corporate Award
Recognized for its commitment to empower Sri Lankan youth at the New Generation Awards 2022
Colombo, November 25, 2022: Unilever Sri Lanka was recently honoured with the Youth Focus Corporate Award at the New Generation Awards 2022, for making the biggest youth impact in the country during 2021-2022, as a corporate entity. The event was organised by the New Generation Chapter of Women in Management (WIM), in partnership with the National Youth Services Council in Sri Lanka. This was the only corporate award category presented at the event.
The New Generation Awards aim to identify, nurture and groom young, talented Sri Lankans and celebrate their contribution to the nation. The event comprised of over 50 Awards being presented across 20 award categories, including awards for schoolchildren, young entrepreneurs, schools, institutions and corporates.
Commenting on the award, Ananya Sabharwal, HR Director of Unilever Sri Lanka said “We are truly humbled to receive this award in recognition of our efforts to upskill the youth of the country. At Unilever, we offer flexible and short-term youth initiatives that cater to undergraduates. So, by the time they graduate, they have already gained vital skills and corporate exposure that are necessary to lay a strong foundation for their career. Our talent scouts who are our own employees collectively contribute to Unilever’s youth investment by volunteering their time to conduct campus sessions and share experiences with undergraduates. This kind of real-time industry experience sharing, really enables youth in deciding the kind of career they want to have”.
Unilever Sri Lanka has committed to empower and equip 100,000 Sri Lankan youth with essential skills by 2025 and has already enabled 30,000+ local youth to become more employable over the last five years through its campus engagements, strategic industry – academic student partnerships and career opportunities. Some of its youth initiatives include its SPARKS Student Ambassador Programme which invites undergraduates from top Sri Lankan universities to become Unilever ambassadors within their universities; the Unilever Challenge which is a real time brand centered case study competition that gives first-hand experience in working with leading brands and building disruptive thinking; the Unilever Leadership Internship Programme which offers internship opportunities to undergraduates across all functions; and many others. It is noteworthy to mention that this year, 48% of the company’s contractual employees were absorbed into the management cadre.
The company has also partnered with John Keels Holdings and London Stock Exchange to launch ‘Fast-Track’, a cross-industry Summer Internship for Sri Lankan students studying locally and abroad; and has partnered with CIMA, the Sri Lanka Institute of Information Technology (SLIIT), General Sir John Kotelawala Defense University (KDU), AIESEC Sri Lanka and Gavel clubs, to help support dynamic capability building in Sri Lankan youth. (Company news release)
Since its inception in 1938, Unilever Sri Lanka has established itself as one of the largest fast-moving consumer goods (FMCG) companies in Sri Lanka. Its current product portfolio includes 30 market leading brands in categories such as Home Care, Personal Care, Beauty & Wellbeing and Nutrition. 96% of its products are manufactured locally, in compliance with the strictest manufacturing standards.Over the past 84 years, Unilever has been deeply rooted in Sri Lankan society, curating a landscape that preserves and nurtures the true Sri Lankan way of life. Enhancing the livelihoods of the communities it operates in, will continue to be at the forefront of this effort as it continues to set industry standards.
Easter Sunday: “Accept guilt with contrite hearts,” says Kurunegala Bishop
TNA accepts president’s overture, MP suggests party ready to talk federal
Women MPs to wear orange on Dec 1 to protest gender based violence
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
U.S. Congress to probe assets fleecing by US citizens of Sri Lankan origin
News6 days ago
Who sold urea plant? Wajira ducks Vasu’s question
Opinion3 days ago
Rohan Abeywickrema – A pioneer in transport professionalism
News6 days ago
Pakistan-Lanka defence dialogue in Karachchi
Editorial5 days ago
Mahathir and Mahinda
Features5 days ago
Successful reconciliation requires people’s trust and confidence
News2 days ago
GCE O/L results to be released today
Opinion5 days ago
I have Cholesterol, Doctor!
Features5 days ago
Brain drain and future of medical education