PSEi hits new highs
The local stock barometer continued its trek to new highs on Thursday, firming up above 8,700 on selective buying of large-cap stocks.
Tracking mostly firmer regional markets, the main-share Philippine Stock Exchange index (PSEi) added 15.7 points or 0.18 percent to close at a new record high of 8,739.83. A new intra-day peak of 8,760.26 was likewise hit.
The PSEi was buoyed by the financial, industrial and holding firms.
On the other hand, the services counter fell by 1.12 percent while the mining/oil and property counters also slipped.
Total value turnover for the day amounted to P9.17 billion.
Despite the PSEi’s gain, market breadth for the day was negative. There were 121 decliners that edged out 86 advancers while 47 stocks were unchanged.
Article continues after this advertisementInvestors loaded up on shares of Metrobank, GT Capital and BPI, which all gained over 2 percent.
Article continues after this advertisementSM Prime and URC both added over 1 percent.
SM Investments, Puregold and AGI also contributed gains.
One notable gainer outside the PSEi was Now Corp., which racked up 8.77 percent.
On the other hand, Ayala Land tumbled by 2.75 percent while Security Bank, PLDT and JG Summit all fell by over 1 percent.
BDO, Jollibee and Megaworld also dipped.
