Stocks index regains footing; peso ends sideways vs. dollar

MANILA – The Philippine Stock Exchange index (PSEi) recovered Wednesday while the peso ended the day sideways on continued volatility given the pandemic.
The main equities index rose by 1 percent, or 71.97 points, to 7,299.70 points.
All Shares jumped by 0.68 percent, or 29.44 points, to 4,350.45 points.
Most of the sectoral gauges trailed the main index, led by the Mining and Oil index, which increased by 1.70 percent.
It was followed by the Holding Firms, 1.38 percent; Property, 1.36 percent; Industrial, 0.75 percent; and Financials, 0.22 percent.
The Services index ended sideways with a drop of 0.09 percent.
Volume totaled 117.64 billion shares amounting to PHP9.31 billion.
Gainers led losers at 133 to 90, while 47 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said anxieties on the pandemic continue to affect the equities market but risk-on sentiments due partly to availability of the coronavirus disease 2019 (Covid-19) vaccines back optimism.
Meanwhile, the local currency finished the day at 48.066 to a greenback from its 48.063 close a day ago.
It opened the day flat at 48.06 and traded between 48.066 and 48.05.
Average level for the day stood at 48.059.
Volume totaled to USD499.86 million, higher than the USD490.65 million. (PNA)

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