Stocks gain strongly, peso at P52.20:$1

March 22, 2018

Stocks bounced back on Thursday after recent selling.

The Philippine Stock Exchange index gained 215,38 points to end at 8,124.45. In the broader market, there were 122 gainers and 75 decliners.

Volume reached 2.01 billion shares worth P8.37 billion from Wednesday's 2.07 billion valued at P9.5 billion. Foreigners remained net sellers with P4.33 billion sold compared to P4.15 billion bought.

Most traded shares were led by Ayala Land Inc, up 5.53 percent to P41.95; Ayala Corp., up 2.29 percent to P937, SM Investments Corp., up 5.22 percent to P980 and PXP Energy Corp., down 2.54 percent to P13.80.

The peso closed at P52.20 against the US dollar from P52.150. Volume at the Philippine Dealing System reached $717.40 million from $445.60 million. DMS