Turnover was 579.86 million rupees, up from 197.43 million rupees a day earlier, with stocks of 96 firms closing in the red against 41 gainers.
Foreigners brought 109 million rupees worth shares while selling 203 million rupees of shares.
JKH closed 8.60 rupees lower at 209.80 rupees while two classes of warrants which debuted Tuesday also closed lower from their reference prices.
JKH's W0022 warrants closed down 11.31 rupees at 65.10 and its W0023 warrants closed down 16.27 at 69.80.
Ceylon Tobacco Company closed 26.90 rupees lower at 1,063.10 rupees, dragging the market down.
Not only ciggarette sales but revenues had also fallen after the last price hike.
Ceylinco Insurance closed 139.90 rupees lower at 1,260.10 rupees and Commercial Bank closed 1.10 cents lower at 113.80 rupees, also contributed the index decline.
Sri Lanka Telecom closed 80 cents higher at 38.80 rupees and Dialog closed 10 cents higher at 9.10 rupees.
Distilleries closed 2.40 rupees higher at 184.00 rupees.
Hemas Holdings closed flat at 32.50 rupees and Kelani Tyres closed 1.20 rupees lower at 47.60 rupees.
Ceylon Cold Stores closed 5.00 rupees lower at 135.00 rupees.
Hayleys closed 4.20 rupees lower at 290.80 rupees and Cargills Ceylon closed 3.00 rupees lower at 150.00 rupees.
Carson Cumberbatch closed 2.50 rupee lower at 380.00 rupees and Sampath Bank closed 70 cents lower at 168.10 rupees.
Nestle Lanka closed 20 cents lower at 1,939.00 rupees and Bukit Darah closed flat at 690.00 rupees.
Lanka Orix Leasing Company closed 80 cents lower at 62.20 rupees and DFCC closed 2.00 rupees lower at 120.00 rupees.
NDB closed 30 cents lower at 150.70 rupees and Union Bank closed 20 cents lower at 16.70 rupees.
Commercial Leasing and Finance closed flat at 3.80 rupees and Arpico Finance Company closed flat at 105.00 rupees.
Aitken Spence closed flat at 114.00 rupees and Aitken Spence Hotel Holdings closed 10 cents lower at 65.20 rupees.
Asian Hotels and Properties closed 30 cents lower at 67.70 rupees.
Touchwood ended down 10 cents to 3.50 rupees.