PSEi touches 8,000 in intraday trade

STOCKS breached the psychological 7,800 level before paring gains at the closing bell, still ending at a new record high Monday.

The benchmark Philippine Stock Exchange index (PSEi) ended Monday’s session at 7,899.41, up 0.27 percent or 21.45 points. This was the 22nd time the PSEi closed at a new record high in 2015, with year-to-date gains now at 9.3 percent. Earlier in the session, the PSEi posted a new intraday high of 8,007.98.

“Despite the pullback at the end of the session, breaking the 8,000 mark was an indication of the confidence level that investors have on the market,” PSE president Hans B. Sicat said in a statement.

Sub-sectors closed mixed. Mining and oil led losers as it declined 1.15 percent, followed by property, down 0.59 percent. Gainers were led by holding companies, which rose 0.52 percent, and financials, up 0.41 percent.

A total of 1.1 billion shares changed hands for P9.5 billion.

PLDT led the list of most actively traded stocks, although it closed unchanged at P2,830 a share. Miguel R. Camus