Stock index rallies after falling past 7,000 mark

June 22, 2018

The Philippine Stock Exchange index skidded below the 7,000 points mark before a last-minute rally reduced its losses on Friday.

The index finished at 7,063.20 points, down 34.95 points. It fell to as low as 6,933.94 in early trading.

Week-on-week, the index fell 6.19 percent for the second straight week.

The peso remained at 12-year-low against the US dollar as the Philippine currency hit a low of P53.46 before closing at P53.28. On Thursday, the peso closed at P53.46. Volume reached $921.5 million from Thursday's $860.95

Volume reached 1.83 billion worth P8.05 billion from Thursday's 1.9 billion shares valued at P7.9 billion.

Foreigners remained net sellers, with P5.21 billion sold and P3.8 billion bought.

Most traded issues were led by Ayala Land, 1.35 percent to P37.55; BPI, down 2.76 percent to P88 and Metrobank, up 0.97 percent to P73.20. DMS