PSEi nears 6,200 level
The local stock barometer climbed for the third straight session Tuesday, now nearing the 6,200 mark, on firmer sentiment in Wall Street.
The Philippine Stock Exchange index (PSEi) added 26.15 points or 0.42 percent to close at 6,193.97.
Apart from the upswing in local stocks, dealers said the local bourse was rising due to optimism on the fourth-quarter 2013 corporate earnings reporting season.
The PSEi’s gains were led by the property counter, which advanced 1.24 percent.
The PSEi was led higher by Ayala Land Inc. (+3.23 percent) while Ayala Corp., Semirara and Jollibee all gained more than 2 percent. Globe Telecom rose over 1 percent while Metrobank, BDO, Metro Pacific Investments Corp., SM Investments Corp., Energy Development Corp., Robinsons Land Corp. and JG Summit also contributed to the day’s gains.
On the other hand, there was profit-taking on Universal Robina Corp. (-1.41 percent) while PLDT, Megaworld and LT Group traded lower. Doris C. Dumlao
