MANILA – The local stock barometer again finished higher on Tuesday amid lingering concerns on the Ukraine-Russia conflict while the peso kept its footing against the US dollar.
The Philippine Stock Exchange index (PSEi) gained 1.28 percent, or 93.60 points, to 7,404.61 points.
All Shares rose by 0.82 percent, or 31.96 points, to 3,921.05 points.
Most of the sectoral gauges tracked the main index with Holding Firms rising 3.36 percent; Mining and Oil, 2.04 percent; Services, 1.39 percent; and Financials, 0.92 percent.
On the other hand, Industrial fell 0.74 percent while Property lost 0.09 percent.
Volume reached 1.005 billion shares amounting to PHP7.84 billion.
Advancers led decliners at 135 to 60, while 49 shares were unchanged.
“Philippine shares made another comeback as investors digested the new batch of sanctions from the West to Russia,” said Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales.
The United States, United Kingdom, European Union, and Canada have imposed additional sanctions on Russia that cover financial institutions, including the country’s central bank, among others, according to news reports.
This, following Russia’s invasion of Ukraine, which the former dubbed as “special operation.”
Amidst concerns on the geopolitical situation abroad, the local currency continues to keep its footing against the greenback and finished the day at 51.23, little changed against its 51.27 close a day ago.
It opened the session at 51.24 and traded between 51.295 and 51.21.
Average for the day stood at 51.249.
Volume rose to USD942.21 million from Monday’s USD780.5 million. (PNA)
