The benchmark Philippine Stock Exchange index edged up 48.14 points or 0.59 percent to finish at 8,238.15 while the broader All Shares index gained 16.06 points or 0.32 percent to close at 4,982.50.
AFP
Index recovers as investors pick up bargains
Iris Gonzales (The Philippine Star) - March 17, 2018 - 12:00am

MANILA, Philippines — The stock market recovered yesterday as investors decided to pick up bargains following the index’s pullback to the 8,100 level on Thursday.

The benchmark Philippine Stock Exchange index edged up 48.14 points or 0.59 percent to finish at 8,238.15 while the broader All Shares index gained 16.06 points or 0.32 percent to close at 4,982.50.

Most of the sectoral indexes were up except for mining and oil and Financials, which both closed in the red.

Total value turnover reached P19.7 billion due to the quarterly FTSE rebalancing. Meanwhile, market breadth was negative, 139 losers to 75 gainers, while 42 issues were left unchanged.

Commenting on yesterday’s session, Gio Perez, a trader at Papa Securities said: In a stunning upward performance at the close, the PSEi’s value turnover reached a whopping P19.7 billion on the back of the FTSE rebalancing.

On the other hand, the index managed to hold despite net foreign selling of P2.5 billion, the highest figure so far for this year.

As for other markets, Asian bourses closed mixed on continued weak global trade concerns, he added.

For specific issues, Perez said Jollibee Foods Corp. led the index’s recovery as it soared 7.5 percent, the highest gain in the index and its new all-time high.

PHILIPPINE STOCK EXCHANGE STOCK MARKET
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