PSEi rises to 7,300 mark

THE LOCAL stock barometer climbed to the 7,300 mark on Tuesday as a rebound in oil prices boosted regional markets.

The Philippine Stock Exchange index gained 15.13 points or 0.21 percent to close at 7,306.56.

Elsewhere in the region, stock market were mostly buoyant as investors took comfort from the rebound in oil prices.

At the local market, the main index was led by the financial counter which rose by over 1 percent.

The holding firm, services and mining/oil counters also gained while the industrial and property counters slipped.

Total value turnover amounted to P6.84 billion. There were 98 advancers that edged out 92 decliners while 56 stocks were unchanged.

Conglomerate Ayala Corp. led the PSEi higher, rising by 2.37 percent while PLDT, GTCAP, Metrobank and MPI all gained over 1 percent.

BDO, SM Prime and DMCI also firmed up.

Outside of PSEi stocks, one of the notable gainers was Security Bank, which rallied by 3.54 percent and was the most actively traded stock for the day. Retailer MSRGI also surged by 5.13 percent.

On the other hand, ALI and JG Summit both slipped by over 1 percent. URC, Megaworld and ICTSI also faltered.

Non-PSEi stock Vitarich tumbled by 12.5 percent in heavy trade.