PSEi climbs 6,800 level

THE LOCAL stock barometer rallied back to the 6,800 level on Thursday as regional markets were buoyed by the rebound in oil prices and an upbeat trading in Wall Street overnight.

The Philippine Stock Exchange index racked up 92.05 points or 1.36 percent to close at 6,848.87, extending its upswing for the fourth straight session.

Local investors were the ones gobbling up more shares from the market as there was around P800 million in net foreign selling for the day.

The financial, industrial, holding firm, mining/oil and property counters all advanced by over 1 percent. Only the services counter ended lower (-0.34 percent), weighed down by telecom giant PLDT which slumped by 2.06 percent and was the day’s most actively traded company.

Value turnover for the day was heavy at P9.88 billion. There were 126 advancers which edged out 47 decliners while 52 stocks were unchanged.

FGEN led the PSEi higher with its 8.56 percent gain while Metrobank, Petron and GTCAP all rallied by over 4 percent.

Jollibee, MPIC, BDO, SMIC and JG Summit all rose by over 2 percent while URC and ALI both gained over 1 percent.

SM Prime, EDC, BPI, Megaworld, Globe and DMCI also contributed to the day’s gains.

On other other hand, aside from PLDT, AC bucked the day’s upswing, slipping by 0.64 percent.