Sri Lankan shares rose more than 1% on Tuesday, after falling for two straight sessions, helped by gains in financial and consumer staple companies.

The benchmark CSE All Share Index closed up 1.38% at 4,947.11.

Boosting the index, food and beverages maker Nestle Lanka Plc jumped 5% and cigarette maker Ceylon Tobacco Company Plc gained 1.3%.

Foreign investors were net sellers, offloading 488.5 million Sri Lankan rupees ($2.63 million) worth of shares, according to exchange data.

Trading volume fell to 49.2 million from 49.8 million in the previous session, while equity market turnover was about 1.86 billion rupees.

The Sri Lankan rupee was last quoted at 185.80 against the dollar as of 0106 GMT, compared with the previous session's close of 185.85.