Sri Lankan shares rise as industrials, financials gain

March 12 (Reuters) - Sri Lankan shares ended higher on Friday, posting their best weekly gain in seven, driven by gains in industrial and financial stocks.

* The CSE All Share Index ended 0.5% higher at 7,247.48. For the week, the index gained 2.7%, its best weekly gain since the week-ending Jan. 22.

* Trading volume fell to 29.3 million from 31.4 million in the previous session.

* Foreign investors were net sellers, offloading 216.6 million Sri Lankan rupees ($1.11 million), according to exchange data.

* Equity market turnover was 1.03 billion rupees, exchange data showed.

* The Sri Lankan rupee was quoted at 196.00 against the dollar as of 1355 GMT, according to Refinitiv data.

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* For a report on major currencies, click ($1 = 196.0000 Sri Lankan rupees) (Reporting by Nallur Sethuraman in Bengaluru; Editing by Shailesh Kuber)