MANILA -- Bargain hunting lifted the Philippine Stocks Exchange index (PSEi) Tuesday while the local currency ended sideways.
After a six-day slide, the main equities index gained 1.26 percent, or 89.87 points, to 7,226.90 points, which BPI Research said was in line with its counterparts in the region.
“The PSEi tracked the rebound in Asia as bargain hunters emerged,” it said.
The main gauge’s performance was mirrored by All Shares, which ended the day’s trade at 4,293.89 points, up by 0.87 percent or 37.06 points.
Financials registered the highest uptick among the sectors after rising by 2.10 percent, which was followed by Industrial, 1.74 percent; Holding Firms, 1.22 percent; Services, 0.58 percent; and Property, 0.15 percent.
Only Mining and Oil ended in the red after it fell 0.61 percent.
Volume reached 1.5 billion shares amounting to PHP9.61 billion.
Gainers led losers at 113 to 73, while 48 shares were unchanged.
The risk-on sentiment gave the peso some breathing space and allowed the unit to end the day at 50.765 against the US dollar from the previous session’s 50.8 close.
It opened the day at a better level of 50.85 from 50.95 a day ago.
It traded between 50.725 and 50.85, resulting in an average of 50.763.
Volume totaled to USD953.9 million, lower than the previous day’s USD1.07 billion.
The currency pair is seen to trade between 50.60 and 51.00 on Wednesday. (PNA)
