PSEi gains 0.73% | Inquirer Business
Close  

PSEi gains 0.73%

/ 12:16 AM April 08, 2016

The local stock barometer yesterday firmed up as investors across the region took their cue from the rebound in oil prices.

The Philippine Stock Exchange index added 52.42 points or 0.73 percent to close at 7,232.97, tracking firmer regional markets.

ADVERTISEMENT

The rebound was led by the holding firm and property counters which both rose by more than 1 percent.

Only the services counter fell (-1.9 percent), weighed down by another sell-off on PLDT shares which tumbled by 5.86 percent.  The telco was the day’s most actively traded stock.

FEATURED STORIES

Luis Gerardo Limlingan, Regina Capital managing director, said the rally in US oil prices, which closed near $38 a barrel, pulled the markets up.

“Investors also digested the US Federal Reserve’s  last policy meeting minutes which show that officials expected to raise rates twice this year,” he said.

At the local market, value turnover amounted to P5.6 billion.  There were 110 advancers, 91 decliners while 37 stocks were unchanged.

Of the PSEi gainers, Petron rose by  3.53 percent while JG Summit, ALI and RLC all advanced by over 2 percent. Doris Dumlao-Abadilla

Read Next
Don't miss out on the latest news and information.

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: gains, Philippine Stock Exchange index, PSEi
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 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.