Close  

PSEi back at 6,900

/ 12:30 AM March 09, 2016

The local stock barometer returned to the 6,900 level yesterday, bucking a regional downturn triggered by sluggish export data out of China.

The Philippine Stock Exchange index (PSEi) gained 22.82 points or 0.33 percent to close at 6,915.51, reversing losses early in the session.

ADVERTISEMENT

The local market was led by the mining/oil counter, which rose by 2.51 percent, while the holding firms and services sectors likewise firming up.

On the other hand, the financial, industrial and property counters ended in negative territory.

FEATURED STORIES

Dealers said the index had swung to positive territory following the recovery in selected large-cap stocks. Despite the PSEi’s rebound, market breadth was negative as there were more decliners (96) than advancers (86).

The PSEi was led higher by Petron (+3 percent) while GTCAP and SMIC both rose by 2 percent. Index heavyweight PLDT also added 1.16 percent.

SM Prime, JG Summit and AC also ended higher.

Outside of the PSEi, the notable gainers were Philex (+6.73 percent) and Double Dragon (+8.62 percent).

However, ALI, AGI and FGEN slipped by over 1 percent. URC, Metrobank, BDO, MPI and Globe also declined.

One big decliner for the day was DAVIN, which lost 18.96 percent, thus giving up the big gain made Monday. Doris Dumlao-Abadilla

ADVERTISEMENT
Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: barometer, China, Export, Local Stock, Philippine Stock Exchange index, PSEi
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.