Inquirer
Bargain-hunting lifts PH stocks; up 1.38%
The Philippine stock market rebounded past the 6,300 level, driven by bargain-hunting opportunities.
The PSEi gained 86.60 points or 1.38 percent to close at 6,352.12, with all sub-sectors ending in the green.
Financials and holding firms indices were top gainers after rising by 2.77 percent and 1.12 percent, respectively.
Luis Limlingan, head of sales at Regina Capital Development Corp., noted that investors were bargain hunting across the board for undervalued names after Thursday's sell-off.
Trading volume was P4.93 billion, with advancers outnumbering decliners 100-82.
Fitch Solutions' BMI projected a 6.3 percent economic growth for the Philippines in 2025, which also contributed to the local market's rise.
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The Philippine Stock Exchange Index (PSEi) increased on Thursday as bargain hunters continued to seek undervalued stocks.
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Philippine shares rebounded on Friday due to bargain hunting and positive economic projections, with the Philippine Stock Exchange index (PSEi) increasing by 1.38 percent to close at 6,352.12.
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The Philippine Stock Exchange index (PSEi) closed 1.03 percent lower at 6,265.52 points, its lowest closing value since June 2024.
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Philippine shares dropped below the 6,400 mark on Monday, with the Philippine Stock Exchange index (PSEi) falling by 2.36 percent or 153.22 points to 6,343.10.
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The Philippine stock market experienced a second consecutive day of decline, with the PSEi closing down 9.68 points or 0.15 percent at 6,340.21 on Tuesday, January 21, 2025.
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