April 14, 2024


World Business Inquiries

PSEi pushes past 6,000 as giddy market awaits lockdown easing

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The benchmark Philippine Stock Exchange Index (PSEi) recovered above the key 6,000 level on Thursday as investors continued to look forward to a possible easing of lockdown restrictions.

The PSEi ended the session up 1.71 percent, or 102.78 points, to 6,097.78 while the broader all-shares index rose 1.12 percent, or 39.76 points, to 3,591.74.

All subsectors, save for services, ended in positive territory. Gainers were led by financials, up 2.61 percent, followed by property, up 2.05 percent, and holding firms, up 1.98 percent.

Services slid lower by 0.24 percent.

Data from the PSE showed 1.35 billion shares valued at P17.15 billion changing hands yesterday. There were 110 gainers versus 73 losers while 57 companies closed unchanged.

Ayala Land-backed AREIT Inc. was the most actively tra­ded on Thursday. The country’s first real estate investment trust slid 7.78 percent to P24.90 per share on its trading debut.

It was followed by SM Investments Corp., up 3.10 percent to P897; Ayala Land, up 1.22 percent to P33.20; BDO Unibank, up 2.22 percent to P92; and Bank of the Philippine Islands, up 3.76 percent to P64.85 per share. —MIGUEL R. CAMUS

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