PSEi up as investors hunt amid Q1 results
THE stock market finished on a stronger note on Monday as investors were said to be loading portfolios as more companies are releasing their first-quarter earnings results.
The benchmark Philippine Stock Exchange index (PSEi) grew 0.37 percent or 28.74 points to close at 7,897.02. The wider All Shares, meanwhile, rose 0.17 percent or 8.04 points to finish at 4,864.39.
Regina Capital Development Corp. head of sales Luis Limlingan said market players fed on the positive sentiment, as local firms were gradually reporting their financial performance.
In a separate comment, P2P Trade Online sales associate Gabriel Jose Perez said the market was only trading sideways over the lack of market-moving developments.
“Its still too soon to tell if the market will be more active tomorrow (today). Potential month-end window dressing could be tempered by the upcoming holiday on Wednesday,” he added.
Sectoral results were mixed, with the financials, industrial, and holding firms the only gainers, up 0.01 percent, 0.67 percent, and 0.89 percent, respectively.
More than 1.06 billion issues were traded valued at P5.8 billion.
Losers led winners, 97 to 89, while 52 issues were unchanged.
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