Sri Lankan shares ended lower for a third consecutive session on Friday, hurt by a fall in industrial and financial stocks.

The CSE All-Share Index closed 1% lower at 7,220.72.

Conglomerates LOLC Holdings and Browns Investments Plc were the top two drags on the index, falling 3.3% and 4.5%, respectively.

Trading volumes surged to 234.7 million from 116.9 million in the previous session.

Foreign investors were net sellers in the equity market, offloading shares worth 199.3 million Sri Lankan rupees, according to exchange data.

Equity market turnover was 2.29 billion rupees, the data showed.