PSEi hits favourable gains for local markets, slips on financial and holding firms

Ram Christian S. Agustin, Mariane Ilumba | January 16, 2018

Photo from INQUIRER.NET

The Philippine Stock Exchange index (PSEi) hit an all new record high of 0.08% closing at 8,865.13 for the optimistic local regional markets on intra-trade day which shows a whole lot of promise for the trends to come.

The trend of the 8,900 mark gains for 7.41 points to track and at the same time increased global economy’s stock markets that yielded an even greater risk and investment to major stockholders.

Although the financial and holding firms in the local market slipped by over P7.41 billion in their turnover market value, PSEi poised stability in its industrial mining counterpart that rose to 2.33% as contributed gains.

61 stocks remain constant while Ayala Corp. lost its edge by 3.04% although its counterpart Ayala Land rose to over one percent in contributed gains. There were 102 decliners ousted by 108 advancers including but not limited to Jollibee which sprung to a 5.23% gain.

With SM prime, BPI, BPO and GT capital slipping outside of the main index whereas wild card gains were recorded from PXP with a total of 14.77%.