PSE Index rebounds after intraday low

March 16, 2018

The Philippine Stock Exchange Index hit an intraday year's low in morning trading but rebounded to close higher on Friday.

The index, which reached 8, 158.62 as of 10:30 am, finished at 8,238.15, up 48.14.

But the broad market remained negative, with 139 decliners, 75 gainers and 42 shares unchanged.

Volume soared to 6.21 billion worth P19.7 billion from Thursday's 8.136 billion valued P7.591. Foreigners were net sellers for the 18th session, with P15.995 billion sold and P13,474 billion bought.

Most traded shares were led by JG Summit, up 0.86 percent to P64.55; Ayala Land, up 1.74 percent to P41; Ayala Corp., 1.59 percent down to P990 and SM Invetsment Corp., 2.68 percent up to P937.

The peso closed at P51.93 against the US dollar from P52.03. Volume at the Philippine Dealing System reached $835.60 million from Thursday's $465.50 million. DMS