Stocks reverse slow start as PSE index ends at new record high

September 15, 2017

Stocks reversed its course from a sluggish morning start as the  Philippine Stock Exchange index (PSEi) closed the week at another record high on Friday.

The PSE Index ended t 8,180.85, up by 35.94 points from Thursday’s previous record close of 8,144.91. Year to date, the PSEi has gained 19.6 percent.

But in the broader market, there were 101 decliners, 93 gainers and 48 unchanged.

The All Shares index also closed higher at 4,836.33, up by 20.42 points or 0.42 percent. Five of the six sectoral indices closed in the green with the property sector posting the biggest gain of 1.3 percent.

Value turnover amounted to P 11.18 billion with 1.18 billion shares traded. Foreigners were net buyersm purchasing P7.26 billion compared to selling P6.79 billion worth of stocks.

“Market sentiment continues to be positive buoyed by the favorable outlook of analysts on the overall market. This optimism was again validated with the market closing today at yet another record high and with trading value exceeding P11 billion.  We remain hopeful that our market levels and trading volumes continue to be robust,” said PSE President and CEO Ramon Monzon.

Among most active shares were Ayala Land, up 1.93 percent to P45, GT Capital Holdings, down 2.09 percent to P1,174, International Container Terminal Services, up 2.45 percent to P108.80 and SM Investments Corp., up 1.21 percent to P835.

The peso closed unchanged at P51.165 against the US dollar. Volume at the Philippine Dealing System reached $638.60 million from $633.50 million on Thursday. DMS