Quantcast
Latest Stories

PSEi hits new record, up 32.49 points



MANILA, Philippines—Philippine share prices rose at the start of the week, ignoring assessments of being overbought and bucking a declining trend across Asia.

The benchmark Philippine Stock Exchange Index (PSEi) rose 0.53 percent, or 32.49 points, on Monday to close at 6,171.70 points, a fresh record high.

The index also tested the 6,200 level as it reached a new intraday trading high of 6,193.25 points. The All-Shares index was up 0.38 percent, as all subindices, except the industrials counter, ended the day in the green.

The growth was led by the services sector, which added 2.15 percent after Philippine Long Distance Telephone Co. (TEL) rose 3.21 percent.

The telco was the day’s most-actively traded share, and its rise on Monday helped it regain its status as the most valuable company in the country with a market capitalization of P604.96 billion—ahead of SM Investments Corp.’s P602.42 billion. SM Investments shares rose 1.34 percent to close at P980 each.

Brokerage firm Accord Capital said a new proposal by United States House Republicans to increase the debt ceiling for the world’s largest economy provided optimism in the local market.

Trading volume was at 2.93 billion shares, changing hands at P6.14 billion. The day’s 88 advancers outnumbered 69 decliners, while 51 issues were unchanged.—Paolo G. Montecillo


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Markets and Exchanges , Philippines , Stock Activity , stocks

  • upupperclassman

    Setting new high on a daily basis is no longer news. The traders of major banks are conspiring to push up the market until April to realize as much trading profits as possible then will come the collapse.

  • Jun Manacsa

    ano yan, kada taas kahit one-point, eh all time high na… at NEWS na kaagad.  Better to set-up a milestone… like 6,500 then 7,000 and so on, then make it a news and celebrate.  Natural lang na tumaas yan (at bumaba)…

    • Igi Sanchez

      walang sense kung aantayin mo pa yung 6,500 or 7,000.

      Ang habol ng investors sa mga gantong news ay yung momentum ng market. Knowing na pumalo nanaman sa bagong levels yang index means na palapit ng palapit yung market sa correction phase… at kung alam mo kung hanggang saan ang inabot ng index, at least malalaman mo din kung hanggang saan babagsak pagdating ng correction.

      Medyo warning sign actually yung gantong news… kaya sya importante.

      Noob.

    • Diablo_III

      Noob ka ba? 



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Retired SC justice Lorenzo Relova; 98
  • Ligots fight 2nd forfeiture case
  • PH will be partly cloudy in afternoon, evening—Pagasa
  • Ex-COA chief nabbed for plunder
  • John Paul relics abound: Bloodied shirt, unwashed fork…
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Afghan hospital guard kills 3 US doctors, including Fil-Am pediatrician
  • Marketplace