Sri Lanka shares rise, earnings boost sentiment

* Bourse up on earnings, share split, bonus issues

* Investors optimistic despite SEC price limit

* Rupee ends little changed

COLOMBO, Aug 13 (Reuters) - Sri Lanka's benchmark stock index .CSE closed firmer on Friday as improved earnings boosted sentiment, which has been hit by a 10 percent price change limit since last week.

Sri Lanka's main share index .CSE, closed 1.6 percent or 80.94 points firmer at 5,115.79.

The bourse has gained 1 percent this week after losing over 4 percent in the first two days, and is Asia's best performer with a 51 percent rise this year.

The index plunged 6.7 percent in the three sessions through Monday after the Securities and Exchange Commission (SEC) imposed price change limits following an unusual price surge in some stocks. [ID:nSGE6730L1] [ID:nSGE6720EG]

Analysts said better earnings posted by companies in the past two days helped boost sentiment.

Conglomerate Carsons CARS.CM jumped 10 percent to 588.50 rupees, while Ceylon Guardians GUAR.CM and Ceylon Investments CINV.CM also surged 10 percent.

Turnover was 1.1 billion rupees ($9.8 million), nearly double the 2009 daily average. Foreign investors sold a net 44.3 million rupees' worth of shares on Friday and overall they have sold a net 10.8 billion rupees this year.

The rupee LKR= closed almost flat at 112.33/36 from Thursday's 112.32/37, dealers said. ($1=112.345 Sri Lankan rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Alex Lawler)