The benchmark Philippine Stock Exchange index (PSEi) saw a rebound on the last day of September, recovering from yesterday’s drop triggered by the World Bank downgrade of the country’s growth outlook for 2020.
By Wednesday’s close, the PSEi was up 0.39 percent, or 22.63 points, to 5,864.23 while the broader all-shares index was up 0.22 percent, or 7.75 points, to 3,528.85.
“Philippine shares ended the quarter on a positive note on window dressing,” Luis Gerardo Limlingan, managing director at Regina Capital Development, said in an advisory to investors.
Gains were propped up by the property and mining and oil subsectors, which gained 1.58 percent and 0.61 percent, respectively.
Financials and industrials, however, dropped 0.73 percent and 0.46 percent.
Data from the PSE showed a total of 1.07 billion shares valued at P5.48 billion changing hands. There were 98 losers versus 91 gainers while 49 companies closed unchanged
Property giant SM Prime Holdings Inc. was the most actively traded on Wednesday as it gained 3.16 percent to P29.40 per share.
It was followed by Dito CME Holdings, down 1.8 percent to P4.90, PLDT Inc., down 1.03 percent to P1,339, SM Investments Corp., unchanged at P880 and BDO Unibank Inc., down 0.29 percent to P86.25 per share.—MIGUEL R. CAMUS