MANILA – The Philippine Stock Exchange index (PSEi) started the week down partly on concerns regarding the implementation of enhanced community quarantine (ECQ) in the National Capital Region (NCR) starting Aug. 6, but the peso ended the day sideways.
The local stock barometer rose by 2.81 percent, or 176.08 points, to 6,446.31 points.
All Shares followed after it jumped by 1.28 percent, or 50.41 points, to 3,985.27 points.
The Holding Firms index led the sectors after it rose by 2.97 percent and was trailed by the Property, 2.89 percent; Financials, 2.60 percent; Services, 1.48 percent; and Industrial, 1.38 percent.
Only the Mining and Oil ended the day with losses after it slipped by 2.55 percent.
Volume totaled 1.5 billion shares amounting to PHP3.54 billion.
Losers led gainers at 119 to 78, while 46 shares were unchanged.
“Philippine shares were bought up on close after being heavily sold down last Friday as investors reassessed the impact of having the ECQ imposed in the country,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Malacañang has placed the NCR, among other places, under a two-week ECQ until Aug. 20 as a measure to address the rising coronavirus disease (Covid-19) cases following the discovery of local transmission because of the Delta variant.
Only authorized persons outside of residence (APORs), such as health and emergency frontline workers, uniformed security personnel, government officials and workers on official travel, and duly-authorized relief and humanitarian workers are allowed to go outside of their homes during the ECQ.
This will be the third ECQ implementation in the NCR after the one implemented from mid-March until end-May 2020, and from May 17 to April 13, 2021.
Meanwhile, the peso managed to end the trade sideways against the US dollar amid the concerns on the economic impact of the ECQ.
The local currency finished the day at 49.9 to a greenback from 49.97 last Friday.
It opened the day at 49.95 and traded between 50.05 and 49.9.
Average level for the day stood at 49.998.
Volume totaled to USD776.52 million, lower than the previous session’s USD1.36 billion. (PNA)
