The local stock market finally took a breather as investors pocketed gains from a 7-day rally.
The main index dropped 31.65 points or 0.46 percent to close at 6,818.99 as the Industrial sector led the retreat while Conglomerates and Mining firms continued to advance. Volume was still hefty at 1.17
MIXED TRADING. Profit-taking ends the Philippine main equities index's rally on Wednesday (Aug. 17, 2022) as investors await the release of the July 2022 retail sales data. On the other hand, the peso finished the day sideways against the US dollar. (PNA file photo) MANILA - Bargain hunting ended in the local bourse, resulting in the negative close of the main equities index on Wednesday, but the peso kept its footing against the US dollar. After several days of rally, the Philippine Stock Exchange index (PSEi) shed by 0.46 percent, or 31.65 points, to 6,818.99 points. All Shares followed with a drop of 0.14 percent, or 5.2 points, to 3,619.88 points. Most of the sectoral gauges also finished the day in the negative territory, led by Industrial, which fell 0.88 percent. It was trailed by Property, 0.78 percent; Services, 0.73 percent, and Financials, 0.70 percent. On the other hand, Mining and Oil rose by 1.32 percent and Holding Firms by 0.43 percent. Volume reached 1.17 billion s
The local stock market rallied past the 6,800 level on some foreign buying.
The main index jumped 112.80 points or 1.67 percent to close at 6,850.64 with Banks leading the charge. Volume rose to 967 million shares worth P8.89 billion as gainers beat losers 111 to 91 with 35 unchanged.
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RISK ON. Investors' sentiments remain up, resulting in another rise of the Philippine Stock Exchange index (PSEi) on Tuesday (Aug. 16, 2022). The peso finished the day sideways against the US dollar even after opening weaker during the day. (PNA file photo) MANILA - Risk-on sentiments continued to lift the local bourse's main index on Tuesday while the peso finished sideways against the US dollar after touching the 56-level mid-day. All counters in the local stock market finished higher, led by the Philippine Stock Exchange index (PSEi), which rose 1.67 percent, or 112.80 points, to 6,850.64 points. All Shares jumped by 1.23 percent, or 44.21 points, to 3,625.08 points. Financials posted the highest increase among the sectoral indices after it rose by 2.78 percent and was trailed by Holding Firms, 1.96 percent; Property, 1.44 percent; Services, 0.96 percent; Industrial, 0.93 percent; and Mining and Oil, 0.84 percent. Volume was thin at 967.13 million shares amounting to PHP8.89
The local stock market continued to rally on growing optimism that inflation may soon ease.
The main index rose 38.18 points or 0.57 percent to close at 6,737.84 as Conglomerates led the advance although the Services and Industrial counters lagged behind. Volume dipped to 1 billion shares P5.49