The Colombo Stock Exchange's main index lost 0.24 percent or 13.52 points to 5,543.25.

"The index fell on retail selling on Telecom while many were stuck with their position with the recent fall and others were waiting to see the direction," said a stockbroker on condition of anonymity.

The day's turnover was 291.9 million Sri Lanka rupees ($2.25 million), less than a third of this year's daily average of 935 million rupees.

The market saw a net foreign inflow of 97.7 million rupees, extending the net inflow to 33.78 billion rupees so far this year.

The rupee ended weaker at 130.05/10 to the dollar compared to Tuesday's close of 129.95/130.05, on seasonal importer demand for dollars, dealers said.