Sri Lankan shares closed lower for a third straight session on Thursday, dragged by losses in financial and industrial stocks.

The CSE All-Share index closed 1.38% lower at 9,395.98.

The International Monetary Fund (IMF) on Monday approved a nearly $3-billion bailout for Sri Lanka, and the country’s presidency said the programme would enable it to access up to $7 billion in overall funding.

Trading volume for the CSE All-Share index rose to 164.4 million shares from about 70 million in the previous session.

Sri Lankan shares end lower as energy weighs

The equity market’s turnover rose to 3.44 billion Sri Lankan rupees ($10.82 million) from 1.51 billion rupees in the previous session, according to the exchange data.

Foreign investors were net sellers in the equity market, offloading 419.8 million rupees worth of shares, while domestic investors were net buyers, purchasing stocks worth 3.32 billion rupees, the data showed.