Stocks up

COLOMBO: Sri Lankan stocks rose yesterday foreign and local buying with investor confidence rising as talks between the Government and the LTTE next month come nearer.

The Colombo All-share index closed up a provisional 0.22 per cent at 2,257.65 points. Turnover was 396 million rupees, lower than the recent daily average. The market is up around 17 per cent so far this year.

"There was some foreign buying on blue chips, also some retail buying," John Keells Stockbrokers Assistant Manager Prasanna Chandrasekera said. "Generally, as the peace talks are getting closer people are more optimistic."

But some players remain cautious and are staying out for now. Both blue chip conglomerate John Keells Holdings and market heavyweight Dialog Telekom closed unchanged yesterday at 158.75 rupees and 19.25 rupees.

The rupee currency closed almost unchanged at 102.75/102.78 to the dollar against 102.74/102.78 on Thursday, with traders saying volumes were light ahead of the weekend.

Call rates in the brokers' market were 10.319 per cent against 10.165 on Thursday. Reuters, Friday