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Morning Updates on Equities

The local equities rallied, closing at a new high, as domestic buyers supported the market on speculation of a better-than-expected GDP growth figure.

he PSEi gained 37.74 points or 0.50% to close at 7,586.67. Most indices ended in green led by the financials (1.15%) and services (0.83%) sectors.

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Local Equities Consolidates

The local equities market consolidated at a tight range before ending the day almost flat, climbing only 12.50 points (+0.17%) to close at 7,344.23 due to the lack of market-moving news.

All PSEi sub-sectors ended the trading day higher with property (+0.57%) and mining and oil (+0.55%) booking the most gains. Market breadth was negative with 83 advances outnumbering 91 declines, while 56 issues remain unchanged.

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Local Equities Rebound

The local equities rebounded for the second straight day due to bargain hunting. The PSEi gained 86.19 points, or +1.22% to close at 7,154.22. Most indices ended in green led by the property (+2.48%) and financials (+2.17%) sectors.

Market breadth was positive with 111 advances outnumbering 67 declines, while 41 issues remained unchanged. Total value turnover reached Php3.31 billion. Foreign investors were net buyers at Php16.33 million.

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