* Buying in blue chips pushes bourse up; turnover up
* Foreign inflow of 28.2 mln rupees
* Rupee firmer on exporter dlr conversions
COLOMBO, June 15 (Reuters) - Sri Lankan shares rose on Friday as investors snapped up blue-chip companies, helping the main index recover.
The Colombo Stock Exchange's main index closed 1.4 percent or 68.19 points firmer to end at 4,991.21, its highest since May 25.
"The market has fallen too much and now it is trying to correct itself," said a stockbroker asking not to be named.
After the market closed on Friday, the International Monetary Fund said it is satisfied over Sri Lanka's recent policy measures, while revising down the country's 2012 growth projection to 6.75 percent from an earlier 7.5 percent.
The market fell 10.8 percent in May due to economic and political worries. It has recovered 3.3 percent so far in June.
Market heavyweight and the top conglomerate John Keells Holdings gained 1.24 percent to 188.30 rupees.
The day's turnover was 758.4 million Sri Lanka rupees ($5.74 million), the highest since May 23, but less than the daily average of 941.4 million rupees this year.
Foreign investors were net buyers of 28.2 million rupees worth of shares extending the net foreign inflow so far this year to 22.62 billion rupees.
The rupee edged up to 131.70/80 against the dollar from Thursday's close of 132.00/132.10 on exporter dollar conversions, dears said. It hit an all time low of 133.60 on Tuesday on importer dollar demand.
On Thursday, Treasury Secretary P.B. Jayasundera told Reuters the rupee had hit its low and would stabilise around 125 per dollar in the medium term.
The currency has depreciated 16.4 percent since Nov. 21, when the government allowed a 3 percent devaluation.
($1 = 132.0500 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Ed Lane)
source - www.reuters.com
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