Sri Lankan shares ended modestly lower on Tuesday, led by a decline in industrial stocks.

The CSE All Share Index ended 0.29% lower at 7,296.88. The move followed a sharp rise on Monday.

Trading volume climbed to 143.9 million from 92.4 million in the previous session.

Conglomerates LOLC Holdings and Expolanka Holdings were the top two drags on the index.

Foreign investors were net sellers, offloading shares worth 185 million Sri Lankan rupees ($943,878), according to exchange data.

Equity market turnover was 2.78 billion rupees, exchange data showed.

The Sri Lankan rupee was quoted at 196.00 against the dollar as of 1200 GMT, according to Refinitiv data.