May 21 (Reuters) - Sri Lankan shares ended lower for a third consecutive session on Friday, hurt by a fall in industrial and financial stocks. * The CSE All-Share Index closed 1% lower at 7,220.72. * Conglomerates LOLC Holdings and Browns Investments Plc were the top two drags on the index, falling 3.3% and 4.5%, respectively. * Trading volumes surged to 234.7 million from 116.9 million in the previous session. * Foreign investors were net sellers in the equity market, offloading shares worth 199.3 million Sri Lankan rupees, according to exchange data. * Equity market turnover was 2.29 billion rupees, the data showed. * For a report on global markets, click * For a report on major currencies, click (Reporting by Sachin Ravikumar in Bengaluru; Editing by Aditya Soni) Our Standards: The Thomson Reuters Trust Principles.