Sri Lankan shares fall as industrials, financials slide

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

* The benchmark stock index ended down 1.27% at 7,343.38. The index is off 18.6% from its lifetime high hit on January 29, 2021.

* Cable manufacturer ACL Cablesslumped 6.2%, according to exchange data, while LOLC Holdings slid nearly 3%.

* Trading volume on the CSE All Share Index rose to 66.7 million from 57.9 million in the previous session.

* Foreign investors were net sellers, offloading shares worth 791.1 million Sri Lankan rupees ($4.06 million), according to exchange data.

* Equity market turnover was 1.99 billion Sri Lankan rupees, data showed.

* The Sri Lankan rupee was quoted at 195.5 against the U.S. dollar by 1100 GMT, according to Refinitiv data.

($1 = 195.0000 Sri Lankan rupees)

(Reporting by Chris Thomas in Bengaluru; Editing by Shailesh Kuber) ((chris.thomas@thomsonreuters.com; +91-80-6749-8695;))