Sun. Jul 25th, 2021

By Joann Villanueva 

MANILA – Risk-on sentiments continue to buoy local shares and the peso Monday.

For the fourth consecutive day, the Philippine Stock Exchange index (PSEi) gained, with the rise at 1.56 percent, or 91.33 points, to 5,930.17 points.

All Shares increased by 1.52 percent, or 52.52 points, to 3,510.22 points.

Most of the sectoral gauges also ended with gains, led by the Property counter that rose 3.54 percent.

It was followed by the Industrial, 2.53 percent; Mining and Oil, 1.72 percent; Financials, 1.35 percent; and Holding Firms, 1.23 percent.

Only the Services index contracted during the day after it fell 0.69 percent.

Volume totaled to 820.04 million shares amounting to PHP6.98 billion.

Gainers surpassed losers at 127 to 63, while 37 shares were unchanged.

“Local shares continued their rise close to the 6,000 territory, as investors grew optimistic with businesses returning closer to normal during GCG (general community quarantine),” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

He added “the country is being perceived as a less risky asset with investors awaiting (US President Donald) Trump’s response to a Chinese national security law for Hong Kong  and its potential impact on an already fragile global economy.”

The local currency ended the day at 50.32, better than its 50.61 close last Friday.

It opened the day at 50.5, an appreciation from its 50.6 start in the previous session.

It traded between 50.53 and 50.315, resulting in an average of 50.438.

Volume totaled to USD699.75 million, higher than the USD633.93 million in the previous session. (PNA)

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