The Philippine Stock Exchange Index (PSEi) inched up 8.59 points, or 0.11 percent on Thursday as investors rebalanced holdings and stocks in the Philippines traded flat. Read on to learn more about it.
Here are the three fast facts on the PSEi inching up 0.11 percent on Thursday:
1. The PSEi main-share index closed at 7,332.59.
The bellwether PSEi gained 8.59 points, or 0.11 percent on Thursday, according to the Philippine Stock Exchange (PSE)'s Daily Quotations Report for March 30. It closed at the level of 7,332.59.
2. Value turnover went down to P7.64 billion.
Value turnover also dropped to P7.64 billion from Wednesday’s P14.29-billion. Meanwhile, 864.73 million shares changed hands. There were 91 advancers, 92 decliners and 49 names that remained unchanged, or closed flat. Foreign buying was at 4.55 billion, while foreign selling was at 4.73 billion.
"The Philippine stock market had another flat trading performance with US stocks closing narrowly mixed as the Dow lost ground for a ninth day in ten and the Nasdaq climbed for a fourth consecutive session," BusinessWorld Online reported Luis Limlingan, Regina Capital Development Corp managing director, as saying. Joylin Telagen , IB Gimenez Securities, Inc., also noted that this might be due to the rebalancing of funds.
3. The broader PSE all-shares index increased 0.16 percent.
According to the latest PSE chart, the all-shares index of PSE increased to 7.35 points, or 0.16 percent, closing at 4,411.65. Among the sectoral indices, financials declined to 1,824.29 (0.15 percent change) and property fell to 10.69 points, or 0.33 percent to close at 3,159.60. Holding firms inched up to 10,961.63, with an increase of 0.26 points.
As for services, it also went up to 1,531.95, increasing by 0.11 percent or 1.77 points. Meanwhile, mining and oil rose 65.44 points or 0.54 percent to close at 12,028.29 and industrials went up to 10,961.63, increasing by 118.07 points or 1.08 percent.
According to the PSE's official Twitter account, as of 9:40 am on Friday, the PSEi is down 0.10 percent or 6.99 points at 7,325.60. It opened earlier at 7,336.61 level. Plus, Wilcon Depot, Inc is having its Initial Public Offering (IPO) Listing Ceremony today at the PSE.
What do you think of the Philippine Stock Exchange Index inching up 0.11 percent on Thursday? What about local stocks trading flat and investors rebalancing holdings funds? How about Wilcon Depot's IPO listing ceremony? Let us know your opinion in the comments area below.
Happening now: Wilcon Depot, Inc.'s IPO Listing Ceremony pic.twitter.com/09PgTsfVeZ— Phil. Stock Exchange (@PhStockExchange) March 31, 2017