PSEi gains as vaccination drive fuels optimism in market

The benchmark Philippine Stock Exchange Index (PSEi) continued its winning streak yesterday on optimism on the recovery of the broader economy with the government’s vaccination drive.

By the closing bell, the PSEi was up 0.34 percent, or 23.22 points, to 6,942.76 while the all-shares index gained 0.16 percent, or 6.84 points, to 4,186.76.

This is the fourth straight session of gains for the PSEi.

Malacañang confirmed after trading hours on Wednesday that vaccines developed by AstraZeneca were set to arrive in the Philippines today.

Subsectors were mixed despite the overall sentiments at the main index. Subcounters were mostly in negative territory led by mining and oil, service, industrials and property. Holding companies and financials gained 0.73 percent and 0.69 percent, respectively.

A total of 221.53 billion shares valued at P34.1 billion changed hands on Wednesday. Data from the PSE also showed a number of block transactions valued at P24.6 billion and mainly involving shares of Jollibee Foods Corp.

There were 125 decliners versus 101 gainers while 40 companies closed unchanged. Meanwhile, foreigners were net sellers to the tune of P350.6 million.

Abra Mining & Industrial Corp. was the most actively traded on Wednesday as it sank 14.81 percent to P0.0046 per share.

It was followed by Dito CME Holdings Corp., up 4.38 percent to P15.72, Premier Horizon Alliance Corp., down 5.73 percent to P2.96, Apollo Global Capital Inc., up 6.43 percent to P0.265, and BDO Unibank Inc., down 0.27 percent to P109 per share.

—Miguel R. Camus