Index manages to advance despite thin trades
MANILA, Philippines — Share prices managed to end in positive territory yesterday despite thin trades, analysts said.
The benchmark Philippine Stock Exchange index (PSEi) climbed by 30.56 points, or 0.39 percent, to settle at 7,771.30 points, while the broader All Shares index was also in the green, ending 14.44 points, or 0.30 percent higher at 4,704.54.
Majority of the counters likewise ended in positive territory except for the property and the financials index.
However, despite ending in positive territory total value turnover was just P4.008 billion. Advancing stocks outpaced decliners, 103 to 84, while 49 issues were left unchanged.
Commenting on yesterday’s trading session, Gio Perez of Papa Securities said the upcoming holidays – Independence Day on June 12 and Eid’l Fitr on June 15 – dampened the session.
“The upcoming holidays and the weather’s downpour really dampened the PSEi today as it ended with the lowest value turnover of the year of only P4 billion,” Perez said.
The peso depreciating to a new 2018 high of 52.95 ahead of the Fed meeting on June 13 may have also contributed to the muted movement, Perez said.
- Latest
- Trending
