Sat. Jan 22nd, 2022

MANILA – Risk-on sentiments continued to buoy both the local main equities index and the peso Thursday.

The Philippine Stock Exchange index (PSEi) rose for the second consecutive day and ended the trade at 5,570.22 points, up 0.84 percent or 46.44 points.

All Shares followed with a jump of 0.59 percent, or 19.54 points, to 3,348.66 points.

Most of the sectoral indices also gained during the day, led by the Financials counter that increased 2.69 percent. It was trailed by the Property, 1.38 percent; Holding Firms, 0.40 percent; and Services, 0.11 percent.

The Mining and Oil counter dropped by 1.07 percent, and Industrial, 0.13 percent.

Volume totaled 2.81 billion shares amounting to PHP4.47 billion.

Advancers led losers at 113 to 75, while 39 shares were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, attributed the rise of the main index to optimism as more economies start to reopen after weeks of quarantine due to the coronavirus disease 2019 (Covid-19).

This optimism extended to the peso-US dollar market, with the local currency ending the trade almost unchanged at 50.69 from 50.68 Wednesday.

It opened the day at 50.63, weaker than its 50.51 start in the previous session.

It traded between 50.8 and 50.63, resulting in an average of 50.727.

Volume totaled USD765.28 million, lower than the previous day’s USD856.48 million. (PNA)

Leave a Reply