jan 7 reuters  sri lankan shares ended higher on friday hitting a record peak in the session and notching their best week in nearly a year aided by a surge in industrial stocks and sustained buying from domestic investors  the cse allshare index cse closed 085 higher at 1328094 its eighth straight day of gains the index is up 86 already in 2022 after an 80 surge last year  a combination of lack of avenues to invest in inflation and companies reporting better numbers due to import curbs sapping foreign competition is driving the rally said abhijit kukreja senior vice president for emerging markets equities at new yorkbased brokerage auerbach grayson  kukreja added that the rally was driven by local investors foreign investors were heading for the door so they could get their money back because dollars were getting short  sri lanka is facing its worst financial crisis in decades with foreign exchange reserves dwindling and debt repayments looming  on friday domestic investors were net buyers and snapped up shares worth 1148 billion rupees 5662 million while foreign investors were net sellers exchange data showed  it is deceiving to think that the market is blockbuster kukreja added pointing to gains mostly coming from expolanka expocm and lolc lolccm while the traditional top gainers in which foreign investors had holdings were largely flat  logistics firm expolanka soared nearly 1200 in 2021 while conglomerate lolc surged 760  on friday conglomerate vallibel one valicm led the rally with gains of 152  meanwhile sri lanka signed a deal with indian oil corps local unit to lease 75 oil tanks as the island moved closer to securing a 500 million fuel credit line from india read more reporting by chris thomas in bengaluru editing by ramakrishnan m