PSEi closes flat at 7,507.20

The Philippine Stock Exchange Index (PSEi) closed flat at 7,507.20 on Friday, with a marginal gain of 0.69 points or 0.009 percent.

For the week, the PSEi gained 4.25 percent, adding 306.41 points from last week’s finish.

The BSP cut its overnight borrowing rate by 25 basis points on Thursday to counter the economic impact of the novel coronavirus.

Foreign funds had a net buying position of P288.473 million, with more than 2.86 billion shares valued at P5.327 billion traded.