THE PHILIPPINE Stock Exchange index (PSEi) posted a new intraday peak of 7,531.94 on Wednesday before it started to pare gains. Still, the index firmed up at the close of the trading day.
The PSEi gained 21.29 points, or 0.29 percent, to close at 7,474.10.
The main index pierced the 7,500 mark for the fourth day in a row but has been unable to close above this level. But the PSEi exceeded the previous intraday peak of 7,530.41 seen on Jan. 14 this year.
Overall, the sentiment of the market remains upbeat, with new highs expected to be posted this week on the back of higher corporate earnings.
At the local market, the day’s gains were led by the financial, holding firm, services and property counters, which offset the declines seen in the industrial and mining/oil counters.
Value turnover for the day amounted to P12.68 billion. Despite the PSEi’s rise, market breadth was negative. There were 67 advancers against 94 decliners, suggesting that investors were looking for cheaper stocks outside the main index.
The day’s gainers were led by Metrobank, which rose by 2.42 percent, as well as ALI, which edged higher by 1.16 percent. PLDT, FGEN and SMIC also contributed to the day’s gains.
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
seo tools
No comments:
Post a Comment