Sun. Jul 25th, 2021

MANILA – Risk-on sentiments again lifted both the local main equities index and the peso Thursday.

The Philippine Stock Exchange index (PSEi) rose by 1.005 percent, or 56.74 points, to 5,700.71 points.

All Shares increased by 0.60 percent, or 20.55 points, to 3,445.83 points.

Services jumped the most with 1.84 percent, and was followed by the Financials, 1.61 percent; Property, 1.18 percent; Holding Firms, 0.63 percent; Mining and Oil, 0.33 percent; and Industrial, 0.13 percent.

Volume totaled to 590.4 million shares amounting to PHP6.6 billion.

Gainers led losers at 120 to 71, while 46 shares were unchanged.

Regina Capital Managing Director Luis Limlingan attributed the sustained positive close of the local bourse to “positive data from a potential coronavirus treatment from Gilead Sciences, (and) continued effort from the Federal Reserve to sustain US growth.”

A Gilead study on remdesivir drug by the National Institute of Allergy and Infectious Diseases met its primary goal, boosting sentiments for the treatment of coronavirus disease (Covid-19).

Meanwhile, the Fed on Wednesday kept its key rates at zero to 0.25 percent, and vowed to keep it at this level as long as needed to help the US economy rebound from the impact of the Covid-19 pandemic, among others.

The peso ended the day at 50.4 to a greenback from 50.51 close a day ago.

It opened the day way better at 50.41 compared to its 50.62 start in the previous day.

It traded between 50.5 and 50.4, resulting in an average of 50.444.

Volume totaled to USD906.8 million, higher than the USD498.5 million a day ago. (IA/PNA)

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