BENGALURU: Sri Lankan shares closed lower on Wednesday, dragged by losses in financial and consumer staples stocks.

The CSE All Share index settled down 1.3% at 10,675.30.

Discussions between Sri Lanka and its creditors are ongoing, though the International Monetary Fund has not been informed about any specific agreements, its mission chief for the country said on Wednesday.

China’s EXIM Bank has extended an initial agreement to restructure Sri Lanka’s foreign debt, the island nation’s finance ministry said in a statement on Wednesday.

Sri Lanka Telecom PLC and LOLC Finance PLC were the top losers on the CSE, falling 2.4% and 2.04%, respectively.

Trading volume rose to 233.3 million shares from 19.1 million shares in the previous session.

The equity market’s turnover rose to 1.26 billion Sri Lankan rupees ($3.89 million) from 673.7 million rupees in the previous session, according to exchange data.

Foreign investors were net buyers, purchasing stocks worth 123.9 million rupees, while domestic investors were net sellers, offloading shares worth 1.15 billion rupees, the data showed.