Sri Lankan shares closed lower for a second straight session on Tuesday, dragged by consumer staples and financial stocks.

The CSE All-Share index closed 0.56% to 9,233.40.

Sri Lanka’s cabinet has approved granting licences to China’s Sinopec, Australia’s United Petroleum, and U.S. firm RM Parks, in collaboration with Shell Plc, to enter the fuel retail market, the energy minister said.

John Keells Holdings Plc and LOLC Finance Plc were the top drags on the index, down 1.8% and 1.6%, respectively, according to Refinitiv data.

Sri Lankan shares end lower as industrials, financials weigh

The trading volume for the CSE All-Share index fell to 44 million shares from about 45.4 million in the previous session.

The equity market’s turnover fell to 861.8 million Sri Lankan rupees ($2.65 million) from 871 million rupees in the previous session, according to exchange data.

Foreign investors were net buyers in the equity market, purchasing stocks worth 73.2 million rupees, while domestic investors were net sellers, offloading 803.8 million rupees of shares, the data showed.