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.

Sri Lanka shares rise on communication services, financials boost; inflation eases

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.

Foreign investors were net buyers, purchasing stocks worth 160.7 million rupees, while domestic investors were net sellers, offloading shares worth 1.31 billion rupees, the data showed.