Chile's stocks rose slightly on Friday in light, cautious trading as uncertainty about heavyweight telecommunications and energy stocks kept many investors waiting on the sidelines.
The IPSA blue-chip index rose 0.41 percent to 1,465.04 points, and is off 1.32 percent this year, while the broader IGPA index slipped 010 percent to 7,432.98 points.
"Volumes are very low and the market showed no trend of any sort. Today we are seeing some upward corrections though with few guidelines for investors," said Rodrigo Cristi, analyst with Alfa brokerage.
"The stocks with ADRs that really move the local market are indirectly having some problems and investors prefer to stay away from them," Cristi added.
Doubt has surrounded leading telephone company Telefonica CTC Chile ahead of a rates decision due in early May that will set fixed-line rates for the next five years.
Preliminary government rulings have indicated a significant drop in rates.
CTC was nevertheless one of the top gainers, rising 3.31 percent to 1,870 pesos, correcting after sliding over recent sessions.
Energy heavyweight Endesa fell 0.77 percent to 259 pesos.
Market concerns about cuts in natural gas supplies from Argentina has kept pressure on energy stocks over recent weeks.
Investors are also treading carefully on fears that a US interest rate increase may come sooner rather than later, making emerging markets less attractive to investors.
Looking ahead, Cristi said news about potential share offerings from retail groups D&S and Cencosud, might inject some life into the market over the coming weeks.
Turnover was low at $9.5 million.
Chile's peso currency rose for the second consecutive session against the US dollar as news of poorer-than-expected US industrial production in March made traders lower somewhat their expectations of an imminent interest rates hike in the United States.
The peso closed at 601.50/602.00, up 0.38 percent from 603.80/604.30 on Thursday.