MANILA – The Philippines’ main stocks index’ rallied for the third day in a row Monday, closing at over 8,200-level on sustained rise in Wall Street.
The Philippine Stock Exchange index (PSEi) surged by 1.39 percent, or 113.29 points, to 8,294.14 points, which PSE president and CEO Ramon S. Monzon, in a statement, said was “mostly in-step with gains in Wall Street and other Asian markets.”
“We are pleased to see the momentum continuing behind investor optimism over the market’s prospects,” he added.
To date, the main index has risen by 21.2 percent and its intra-day level of 8,294.14 points also registered its highest to date.
The broader All Shares index tracked the main index after it rose 1.04 percent, or 50.15 points, to 4,886.48 points.
Most of the sectors ended with gains, led by the Holding Firms, 2.29 percent, followed by Property, 1.65 percent; Financials, 0.97 percent; and Services, 0.12 percent.
On the other hand, Mining and Oil and Industrial fell by 0.12 percent and 0.08 percent, respectively.
Volume for the day reached 1.30 billion shares amounting to P8.11 billion.
Gainers led losers at 121 to 83 while 46 shares were unchanged.
Meanwhile, the local currency on Monday closed at 51.10, a bit better than the 51.165 last Friday.
It opened the day at 51.17 from 51.25 in the previous session.
It traded between its closing level and 51.26, resulting in an average of 51.177.
Volume for the day reached USD502.9 million, lower than the USD638.6 million last Friday.
