Sri Lankan shares end lower

COLOMBO: Sri Lankan shares closed lower on Tuesday, dragged down by the financial and industrial sectors.

The CSE All-Share index settled 1.2% lower at 10,731.41.

Sampath Bank and Commercial Bank of Ceylon were top losers on the index, down 3% and 2.1%, respectively.

Sri Lanka’s cabinet approved issuance of free tourist visas to visitors from seven countries including China, India and Russia to boost tourism and help revive its crisis-hit economy, the media ministry said on Tuesday.

Trading volume on the index rose to 37.7 million shares from 31.2 million shares in the previous session.

The equity market’s turnover rose to 1.35 billion Sri Lankan rupees ($4.13 million) from 1.07 billion rupees in the previous session, according to exchange data.