Stocks up

COLOMBO: Sri Lankan stocks ended firmer yesterday as investors took heart after the Tigers agreed to hold talks with the Government in Oslo on truce monitor safety amid efforts to avert a return to civil war, traders said.

The Colombo All Share Index rose 1.79 per cent to close at 2,247.75 points. Turnover was 352 million rupees ($3.4 million), well above the recent daily average. The market is up around 16 per cent so far this year.

"People have gained bit of confidence," said Susil Fernando, Investment Advisor at DFCC Stockbrokers in Colombo. "Things are looking a bit better now the (Tigers) agreed to go for talks and the government also showed the green light."

Market heavyweight and leading mobile operator Dialog Telekom rose 1.18 per cent to 21.50 rupees a share based on a weighted average close, while conglomerate John Keells Holdings rose 1.0 per cent to close at 151.50 rupees.

Sri Lanka's rupee closed slightly stronger at 103.30/103.34 to the dollar compared to Thursday's close of 103.37/103.43. Friday, Reuters