Philippine Stock Exchange AFP FILE PHOTO
MANILA, Philippines—The local stock barometer stabilized on Thursday, reversing a rough start, on selective buying of large-cap stocks.
The main-share Philippine Stock Exchange index inched up by 5.87 points or 0.09 percent to close at 6,772.44. Trading for the day, however, was mostly focused on second- and third-liner stocks.
The holding firm, services and property counters supported the market’s modest rise, making up for the slack in financial, industrial and mining/oil counters.
EDC (+1.63 percent) was one notable gainer among PSEi stocks.
Value turnover for the day amounted to P7.16 billion. There were 96 advancers that beat 87 decliners while 44 stocks were unchanged. Most of the stocks that were actively traded for the day were not PSEi stocks.