MPI gains

Colombo stocks rallied 2.8% on Tuesday, with the ASPI gaining 42 points (+2.8%) to close at 1,576 and the MPI which tracks the most liquid stocks in the CSE, gaining 49 points (+3%) to close at 1,656.

The plantation sector gained 10%, with Kegalle Plantations rising 25% to close at Rs 31.25, Madulsima Plantations was up 16% to close at Rs 9.25, and Malwatte Valley Plantations was up 5% to close at Rs 22.00. The Tourism Sector rose 6%, with Aitken Spence Hotel Holdings up 4% to Rs 100.00, while Asian Hotels and Properties was up 2% to close at Rs 26.50. Keells Hotels Holdings rose 9% to close at Rs 6.00.

Turnover for the day was Rs 134.7 million with Malwatte Valley accounting for Rs 23.4 million of it, while John Keells Holdings (Rs 13.5 million) and ACL Cables (Rs 12.5 million) being the other large contributors to turnover.

In Asian markets, the Nikkei lost 5%, while Hong Kong's Hang Seng Index lost 2%.

Indian and Singaporean markets lost less than a percent. Global markets turned negative with falling commodity prices.

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