Sri Lankan shares rose for a third straight session and settled at more than a five-month high on Thursday, driven by gains in financial and industrial stocks.

The benchmark CSE All Share Index ended 0.29pc higher at 5,235.61, its highest closing level since March 6.

Commercial Bank of Ceylon PLC rose 3pc to a more than five-month high of 83.4 rupees, while cigarette maker Ceylon Tobacco Company PLC advanced 1pc.

Conglomerate Hayleys PLC soared 12pc to its highest in 1-1/2 years.

Foreign investors were net sellers, offloading 280.6 million Sri Lankan rupees ($1.53 million) worth of shares, according to exchange data.

Trading volume on the CSE All Share Index fell to 63.2 million shares from 67.5 million in the previous session.

Equity market turnover was 1.92 billion Sri Lankan rupees.

The Sri Lankan rupee was quoted at 182.8 against the dollar as of 1048 GMT, according to Refinitiv data.