PSEi recovers to 6300 level amid investor confidence

The Philippine Stock Exchange index (PSEi) recovered to the 6300 level on Wednesday, gaining 28.44 points or 0.45% to close at 6,313.12.

Investors actively sought cheaper Philippine stocks and appreciated corporate fundamentals, leading to a rise in the main index.

The banking sector showed the most significant gains, with BPI and BDO Unibank Inc. both registering increases.

Net value turnover declined slightly to P5.51 billion from the previous day's P6.82 billion.

Foreign investors were net buyers, injecting P392.22 million into the market, indicating confidence.

Among the index members, Globe Telecom led the charge, gaining by 4.76 percent, while Alliance Global Group lost the most with a 2.95-percent drop.