PSEi closes another choppy trading week 3.5% stronger
The benchmark Philippine Stock Exchange Index (PSEi) still ended the week with a solid gain of over 3.5 percent after investors locked in profits on Friday.
By the closing bell, the PSEi pulled back 0.64 percent, or 46.41 points, to 7,261.34 while the broader all-shares index shed 0.38 percent, or 14.81 points, to 3,855. 30.
Market movements for the week were dominated by news on US Federal Reserve’s planned monetary tightening and the steep rise in local COVID-19 cases.
Even with the current surge in infections, Cabinet Secretary and acting presidential spokesperson Karlo Nograles said they would retain alert level 3 in Metro Manila from Jan. 16 to 31.
PSE subsectors were mostly lower on Friday with mining and oil finishing in the green with a gain of 0.05 percent. Financials and services dropped the most with 0.95 percent and 0.92 percent each.
Property stocks also sank 0.52 percent, followed by holding firms and industrial stocks, down 0.4 percent and 0.21 percent, respectively.
PSE data showed 947.07 million shares valued at P5.8 billion changing hands while foreigners sold a net amount of P63.19 million.
There were 97 losers to 77 advancers, while 53 companies closed unchanged.
Solar Philippines Nueva Ecija Corp. was the most actively traded on Friday as it jumped 6.34 percent to P1.51 per share.
It was followed by Metropolitan Bank & Trust Co., down 2.36 percent to P57.80; Monde Nissin Corp., up 3.62 percent to P17.18; BDO Unibank Inc., down 0.15 percent to P129.50; and AC Energy Corp., down 0.21 percent to P9.50 per share.
Rounding out the list of active stocks were Puregold Price Club Inc., up 0.4 percent to P37.30; PLDT Inc., down 0.37 percent to P1,897; SM Investments Corp., down 0.32 percent to P947; Ayala Land Inc., up 1.12 percent to P36.20; and Dito CME Holdings Corp., down 5.18 percent to P5.67 per share.
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