The benchmark Colombo All Share Price Index (ASPI) closed down 0.37 percent (9.02 points) to end at 2,399.89 Friday while the Milanka index of liquid stocks lost 0.
53 percent (14.43 points) to close at 2,695.14, according to provisional stock exchange data.
Turnover was 235.5 million rupees.
On Friday there was net foreign buying worth 12.4 million rupees, with foreign investors buying 36.3 million worth shares and selling shares valued at 23.9 million rupees, brokers said.
But during the week foreigners bought 543.9 million rupees worth of shares and sold 533.0, resulting in a net outflow of 11.0 million rupees, brokers said.
"The market traded in an turnover range compared to the previous week as the investors were trying to see the direction of the market, while others were realizing their profits," Thakshila Hulangamuwa of Asha Phillip Securities said.
"According to our technical analysis the market was heading towards 2,375 in the ASPI, but in the latter part of the day a little bit of renewed buying interest by the retailers helped the indices."
The market is expected to stabilize at current levels with occasional fluctuations, Hulangamuwa said.
This week's market turnover was down 41.0 percent to 1.41 billion rupees from last week's turnover of 3.42 billion rupees, brokers said.
Brokers said 2.25 million shares of Sierra Cables changed hands, between 1.60 and 1.70 rupees.
Sierra Cables closed at 1.70 rupees, down 10 cents.
Index heavy Distilleries Company of Sri Lanka closed at 87.75 rupees, down 1.75, while Commercial Bank of Ceylon closed at 134.00 rupees, down 1.00.
Ship maker Colombo Dockyard closed at 108.00 rupees, down 75 cents.
National Development Bank closed at 159.
75 rupees, up 4.75, while Nations Trust Bank closed at 31.
50 rupees, up 1.50.
DFCC Bank closed at 133.25 rupees, up 3.00.
Hatton National Bank closed at 118.
50 rupees, down 1.50, while Seylan Bank closed at 33.25 rupees, down 1.00.
Tea Small Holder Factories closed at 98.0 rupees, up 3.25, while Talawakelle Tea Estates closed at 24.50 rupees, down 50 cents.
Madulsima Plantations closed at 14.
00 rupees, down 25 cents, while Kotagala Plantations closed at 28.75 rupees, down 75 cents.
Top celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 5.25 rupees, on low volume trading, while Sri Lanka Telecom closed flat at 47.25 rupees.
Royal Palms Beach Hotels closed at 45.
00 rupees, down 2.00, while Pegasus Hotels closed at 32.50, up 75 cents.
The spot dollar remained unchanged at 114.90/95 rupees in late afternoon trade, dealers said.