Sri Lankan shares rose on Monday to settle at their highest level since Dec. 31, 2019, driven by a surge in industrial stocks, while the country's trade deficit narrowed in September.

The benchmark stock index ended up 0.57% at 6,114.50, marking its fifth straight session of gains.

Sri Lanka's imports in September fell 10.9% year-on-year to $1.53 billion and exports for the month were up 4.8% to $1 billion, data from the central bank showed. Trade deficit was $525 million.

Conglomerate Expolanka Holdings jumped 14.6%, making it the top boost, while Distilleries Company of Sri Lanka shed 2.7% to be the top drag on the index.

Cold chain facility operator Tess Agro jumped 40% to end the day as the top percentage gainer.

Trading volume on the CSE All Share Index rose to 225.2 million from 215.7 million in the previous session.

Foreign investors were net sellers in the equity market, offloading 271.9 million rupees ($1.47 million) worth of shares, according to exchange data.