The All Share Price Index fell 63.16 points down 1.03 percent to close at 6,086.22 and the S&P SL20 closed 1.21 percent lower, down 41.87 points to 3,430.43.
Turnover recovered from Rs. 200.98 million on Monday to Rs. 455.45 million yesterday.
Foreign selling amounted to Rs. 122.17 million, leading to a outflow of Rs. 38.65 million.
"Declines outweighed advances by more than 2:1 at market close, including sharp declines in large cap consumer and diversified stocks, pushing the ASPI to a thirty six day low. Activity levels remained subdued and were dominated by trades on JKH and COMB which collectively accounted for over 35% of market turnover," John Keells Stockbrokers said.
JKH fell 1.89 percent to close at Rs. 259 and Hayleys fell 1.37 percent to Rs. 309, Expolanka fell 1.45 percent to Rs. 6.80 and Softlogic dropped 1.03 percent to Rs. 9.60. Distilleries closed at Rs. 188.30, down 2.33 percent.
Commercial Bank fell 1.73 percent to Rs. 113. NDB fell 0.92 percent to close at Rs. 161.70. HNB lost 1.42 percent to close at Rs. 160 and Lanka Orix Finance closed 3.13 percent lower at Rs. 3.10. Seylan Bank shed 1.07 percent to close at Rs. 64.50.
Nations Trust Bank closed flat at Rs. 62 and Sampath Bank gained a slender 0.10 percent to close at Rs. 202.