Sri Lankan shares rose on Monday, after falling more than 2% in the previous session, helped by heavyweight industrial stocks.

The CSE All-Share index rose 0.42% to close at 11,034.41. The index had tumbled 2.35% on Friday as sentiment took a hit after the discovery of the first Omicron variant patient in the country.

Conglomerates Expolanka Holdings and LOLC Holdings were the top boosts to the index, gaining 6.2% and 2.6%, respectively.

The equity market's turnover was 6.74 billion rupees ($33.28 million), according to stock exchange data.

Sri Lankan shares end flat as financial losses offset industrial gains

Trading volume fell to about 253 million shares from 305.8 million shares in the previous session.

Foreign investors were net buyers in the equity market, acquiring shares worth about 60.4 million rupees, as per exchange data.

Sri Lanka's top central bank official on Saturday said remittances have declined over the past six months, prompting authorities to examine if the sudden drop in foreign cash inflow was linked to the use of any illegal channels for transactions.

The island-nation reported 746 new coronavirus cases in the last 24 hours, taking the total to 567,682, while deaths rose by 21 and the total death toll reached 14,461, data from the country's health bureau showed.

About 63.13% of the country's population has been fully vaccinated so far, according to data from Johns Hopkins University.