The local stock market resumed its upward trek after a brief respite last Friday, as investor sentiment was boosted by upbeat overseas markets.
The main index jumped 122.27 points or 1.83 percent to close at 6,790.24 as Miners and Banks led all sectors in the rally. Volume was also firmer at 2.46
The local stock market is seen to continue consolidating at current levels although sentiment appears to be more bullish with the PSEi rising 1.55 percent in the first trading week of the new year.
“The market has been able to maintain its position above the 6,600 level (a previous resistance) and
After a healthy start this year, stocks dropped on Friday, Jan. 6, as investors took profits at the local stock market after US bourses dropped due to renewed concern over interest rate hikes.
The main index fell 93.36 points or 1.38 percent to close at 6,667.97 with the Industrial counter leading
Profit-taking snapped the three-day winning streak of the Philippine Stock Exchange index’s (PSEi) yesterday but the peso gained against the greenback.
The local stock market continued to trek higher after the announcement of a favorable inflation rate for December.
The main index rose 42.83 points or 0.64 percent to close at 6,761.33 as Banks led the advance while the Services and Mining counters declined. Volume improved slightly to 1.85 billio