Close  

Market rallies, gains 1.23%

/ 05:18 AM March 22, 2019

The local stock barometer outperformed regional markets and rallied to the 7,000 level on Thursday ahead of the first monetary policy meeting under the new Bangko Sentral ng Pilipinas Governor, Benjamin Diokno.

The main-share Philippine Stock Exchange index (PSEi) racked up 96.52 points, or 1.23 percent, to close at 7,954.72.

ADVERTISEMENT

Many traders had bet on a 100-basis point reduction in the reserve requirement on banks at this meeting. The BSP, however, kept monetary settings unchanged.

All counters gained ground, led by the holding firm index which rose by 2.22 percent, and the interest rate-sensitive property counter, which added 1.26 percent.

FEATURED STORIES

Value turnover, however, was thin at P5.66 billion.

There were 124 advancers that edged out 76 decliners, while 43 stocks were unchanged.

Investors loaded up on shares of JG Summit, which surged by 7.1 percent.

LTG, RLC and AEV were, likewise, big gainers, all posting increases of over 4 percent.  Megaworld added 3.05 percent.

The day’s most actively traded company was Ayala Land, which climbed by 2.29 percent.

SM Investments and PLDT both rose by over 1 percent, while Ayala Corp., BDO, Metrobank, SMC, AGI and BPI all contributed modest gains.

On the other hand, URC fell by 2.03 percent while SM Prime, ICSTI and Jollibee all slipped.

ADVERTISEMENT

Outside the PSEi, one notable decliner was consumer powerhouse, San Miguel Food and Beverage, which lost 2.5 percent.

Read Next
LATEST STORIES
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: Bangko Sentral ng Pilipinas, Benjamin Diokno, Local Stock, Philippine Stock Exchange index (PSEi)
For feedback, complaints, or inquiries, contact us.
globalnation

Pangilinan taunts Duterte’s war threat against Canada

April 24, 2019 09:55 AM

business

BREAK: MWSS fines Manila Water for supply shortage

April 24, 2019 09:50 AM

opinion

Be prepared

April 24, 2019 09:08 AM




© Copyright 1997-2019 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.