MANILA – The local stock barometer rallied above 6,300-level on Thursday while the peso also ended on a positive note partly on news about a possible vaccine against the coronavirus disease (Covid-19).
The Philippine Stock Exchange index (PSEi) rose by 2.49 percent, or 154.37 points, to 6,364.08 points.
All Shares inched up by 1.81 percent, or 66.23 points, to 3,716.98 points.
The Financials counter led the sectors after rising by 3.33 percent and was trailed by the Property, 2.34 percent; Industrial, 2.33 percent; Services, 2.44 percent; and Holding Firms, 1.96 percent.
Only Mining and Oil ended the day on the red after it fell by 0.52 percent.
Volume totaled to 761.37 million shares amounting to PHP7.35 billion.
Gainers led losers at 132 to 61, while 46 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said market sentiments were boosted by news the Covid-19 vaccine being developed by Pfizer and BioNTech showed this created neutralizing antibodies, among others.
However, the drug has not been reviewed by a medical journal but once approved by regulators, about 100 million doses are targeted to be produced by year-end.
Meanwhile, the local currency ended the day at 49.73 from 49.82 Wednesday.
It opened the day at 49.77, little changed from the previous day’s start of 49.76.
It traded between 49.82 and 49.73, resulting in an average of 49.777.
Volume totaled to USD615.66 million, lower than the USD681.45 million a day ago. (PNA)