Sri Lankan shares closed lower on Thursday, dragged by losses in financials and industrials stocks.

The CSE All-Share index settled 0.59% lower at 12,188.79.

Sri Lanka’s agreements with China and other creditor nations to restructure about $10 billion in bilateral debt brought it a step closer towards restoring debt sustainability, the International Monetary Fund (IMF) said on Thursday.

Trading volume on the CSE All-Share index fell to 40.9 million shares from 75.2 million in the previous session.

Sri Lanka debt deal a key milestone towards restoring debt sustainability, IMF says

The equity market’s turnover fell to 1.01 billion Sri Lankan rupees ($3.3 million) from 1.86 billion rupees in the previous session, according to exchange data.

Foreign investors were net sellers, offloading stocks worth 71.9 million rupees, while domestic investors were net buyers, purchasing shares worth 962.3 million rupees, the data showed.