PSEi ends slightly higher | Inquirer Business

PSEi ends slightly higher

/ 12:13 AM June 25, 2014

The local stock barometer crept higher for a third straight session Tuesday in anticipation of semester-end window-dressing activities.

The main-share Philippine Stock Exchange index (PSEi) gained 31.08 points or 0.46 percent to close at 6,793.07 a share.

“Local stocks are expected to rally ahead of semestral window-dressing but this will likely be short-lived due to concerns on inflation and rising oil prices,” said Manny Cruz, chief strategist at local stockbrokerage Asiasec Equities Inc.

Article continues after this advertisement

Cruz said the rally might encounter resistance at 6,830 but if this would be breached, there could be a “very strong” barrier at 6,916.

FEATURED STORIES

By counter, the day’s biggest gainer was the holding firm sub-index, which rose 1.04 percent. The financial, industrial and property counters likewise firmed up.

On the other hand, the services and mining/oil counters slipped.

Article continues after this advertisement

Value turnover for the day amounted to P7.67 billion. There were 110 advancers that edged out 69 decliners while 45 stocks were unchanged.

Article continues after this advertisement

The PSEi was led higher by SM Investments Corp. (+2.38 percent), the day’s most actively traded stock alongside DMCI (+1.21 percent). Metrobank, Alliance Global, First Gen, GT Capital, PLDT, SM Prime, URC, BPI, EDC and Megaworld were also up.

Article continues after this advertisement

Outside of the main index, Belle (+5 percent) was a notable gainer.

On the other hand, there was profit-taking on Philex (-1.72 percent) as well as on Ayala Corp., Ayala Land and Globe Telecom. Outside of PSEi stocks, Travellers (-1.1 percent) and Security Bank

Article continues after this advertisement

(-0.91 percent) likewise slipped in relatively heavy volume.

GMA7 shares were up 3.24 percent to close at P7.65 a share following a disclosure that San Miguel Corp. president Ramon Ang was coming in as a fourth key shareholder. Doris C. Dumlao

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, stocks

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2025 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.