Sri Lankan shares rose on Friday from an over two-week low, snapping a seventh straight fall as cautious investors bought battered shares in thin trade even as political uncertainty weighed on investor confidence.

The All-Share Price Index of the Colombo Stock Exchange rose 1.01 percent or 28.73 points to 2878.96, from its lowest since Nov. 10.

"Investors were buying shares, which have come down in the recent rally," an analyst said on condition of anonymity. "But political concerns are there."

Investor confidence in the island nation's bourse, still one of this year's best-performers in the world with a 91.5 percent year-to-date return, has been on the decline after the government on Oct. 13 announced it will hold elections by April.