BENGALURU: Sri Lankan shares closed lower on Tuesday, dragged by losses in material and consumer discretionary stocks.

The CSE All Share index settled down 0.27% at 10,452.22.

Sri Lanka on Monday approved a proposal by China’s Sinopec to build a $4.5 billion refinery, its energy minister Kanchana Wijesekera said, making it the largest single investment in the country since a crippling economic crisis last year.

Expolanka Holdings PLC and Lion Brewery (Ceylon) PLC were the top losers on the CSE All Share, falling 1.36% and 4.13%, respectively.

Sri Lanka shares end lower weighed by communication services, industrials

Trading volume on the CSE All Share index fell to 19.5 million shares from 19.8 million shares in the previous session.

The equity market’s turnover rose to 724.5 million Sri Lankan rupees ($2.20 million) from 579.1 million rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 167.2 million rupees, while domestic investors were net buyers, purchasing shares worth 665.7 million rupees, the data showed.