Sri Lankan shares suffered its second consecutive day of losses on Friday to post their third straight weekly fall, hurt by a decline in industrial and financial stocks.

* The CSE All-Share index settled 1.45% lower at 9,049.52. For the week, the index declined 8.88%, its biggest weekly loss since April 1.

* Sri Lanka's top court has granted permission for proceedings against former President Gotabaya Rajapaksa, the rights group Transparency International, which filed the case against him, said in a statement on Friday.

* The case calls for accountability from the island nation's leadership for its worst financial crisis in more than seven decades.

* Meanwhile, Japan's Finance Minister Shunichi Suzuki said on Friday the country remains committed to back Sri Lanka's debt restructuring if conditions are met.

* Conglomerate Expolanka Holdings Plc and LOLC Holdings Plc were the top drags on the index, both falling 2.4%.

* Trading volume on the CSE All-Share index was at 69.7 million shares on Friday.

* The equity market turnover was 2.08 billion Sri Lankan rupees ($5.78 million), according to exchange data.

* Foreign investors were net buyers in the equity market, purchasing 185.8 million rupees of shares, while domestic investors were net sellers, offloading stocks worth 2.06 billion rupees, data showed.

* For a report on global markets, click ($1 = 360.0000 Sri Lankan rupees) (Reporting by Anuran Sadhu in Bengaluru; Editing by Dhanya Ann Thoppil)