Sri Lankan stocks rose on Tuesday as investors bought shares in the bourse's largest listed company, conglomerate John Keells Holdings, on expectations of upbeat full-year earnings, brokers said. The key Colombo all-share index rose a provisional 0.23 percent, or 3.99 points, to 1,718.54 points. The bourse has gained more than 13 percent so far this year on hopes for strong earnings due for release in the coming weeks and on gains in the construction sector, which is seen benefiting from post-tsunami rebuilding.

"Today's activity was mainly around John Keells, mostly local investor buys. Investors are expecting good full year results," said Naren Godamunne at DFCC Stock Brokers.

Conglomerate Keells, which is poised to release it's earnings for the third quarter, rose 0.9 percent to 140.25 rupees.

The Milanka index - which tracks the most liquid and highly capitalised stocks - rose a provisional 0.58 percent, or 13.65 points, to 2,366.12 points.

Ceylon Glass Co Ltd rose 4.41 percent to 71 rupees after the company announced a bonus and dividend issue.

Nawaloka Hospitals Ltd rose 4.17 percent to 6.25 rupees on market expectations of a dividend announcement, traders said.

Total market turnover was 470.9 million rupees with 44 million rupees worth of foreign purchases.

Copyright Reuters, 2005