PSEi breaches 5,100 mark


The local stock index overcame rising risk aversion across the region Monday as selective buying fueled its breach of the 5,100 level, again moving closer to record highs.

Shrugging off jitters over Spain’s debt that spooked most other markets elsewhere, the Philippine Stock Exchange index added 20.16 points, or 0.4 percent, to finish at 5,117.46. This brought the index less than 30 points away from revisiting the all-time high marked last month. The local market’s record close was 5,145.89 on March 16 while the all-time intra-day high was at 5,146.17 posted last March 19.

The index was led higher by the financial and holding firm counters whose sub-indices both surged more than 1 percent. The property counter also managed to firm up. On the other hand, the industrial, services and mining/oil counters ended in the red.

Total value turnover improved to P6.54 billion, aided by about P865 million in net foreign buying. Many investors who had gone on long holidays during the Lenten break were now starting to take new positions, said Joseph Roxas, president of Eagle Equities Inc.

Despite the overall index gain, there were only 74 advancers, which were beaten by 87 decliners while 42 stocks were unchanged. With the index now at 5,100—a level where many analysts believed most index stocks have reached fair valuation—stock picking was unsurprisingly selective.—Doris C. Dumlao

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • Diablo_III

    Eto kasalanan na naman ito ni PNoy for Noynoying. lol. 

  • TrulyRichClub

    great news! :)
    more fun in the Philippines indeed!

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


editors' picks



latest videos