MANILA – The local stock barometer ended Wednesday’s trading on a positive note due to optimism about the results of the US elections, while the peso closed almost unchanged on risk-on sentiments.
The Philippine Stock Exchange index (PSEi) gained 2.03 percent, or 128.49 points, to 6,464.05 points.
All Shares posted an uptick of 1.56 percent, or 59.14 points, to 3,848.61 points.
Mining and Oil index posted the highest increase among the sectoral gauges with a jump of 2.71 percent.
It was trailed by the Holding Firms which rose by 2.34 percent; Property, 2.12 percent; Financials, 1.73 percent; Industrial, 1.71 percent; and Services, 0.85 percent.
Volume totaled 2.34 billion shares amounting to PHP7.25 billion.
Gainers led losers at 135 to 73, while 46 shares were unchanged.
“Philippine shares jumped on Wednesday as investors hoped a clear winner would emerge from the US presidential election and a delayed, or contested, result would be avoided,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.
He said increases in coronavirus disease 2019 (Covid-19) cases, particularly in the US and Europe, was also factored in during the day’s trade.
Meanwhile, the peso ended the day sideways against the US dollar at 48.4 from 48.41 a day ago.
It opened the day at 48.4, little changed from its 48.38 start in the previous session.
It traded between 48.46 and 48.35, resulting in an average of 48.392.
Volume totaled to USD730.86 million, higher than the previous session’s USD509.05 million. (PNA)
