Stocks up amid lull in violence

MARKET: Sri Lankan stocks ended firmer on Thursday as investors took heart from a lull in violence after Tamil Tiger rebels this week recommitted to a 2002 ceasefire, while the rupee slipped, traders said.

The Colombo All Share index rose 1.08 percent to close at 2,113.96 points. Turnover was 188 million rupees ($1.81 million), well below the recent daily average.

The market is up over 9 percent so far this year, but slipped sharply in June after the bloodiest period since a 2002 truce.

"The market was on positive note on news the LTTE recommitted to the peace process and there were no major incidents reported," said Harsha Fernando, CEO at SC Securities in Colombo. "We saw positive participation of retailers (small investors)."

"As long as on the peace front there are no major incidents we will see the market trading on a positive note," he added.