NextGen Day

The Philippine Stock Exchange index (PSEi) experienced a positive boost as last-minute bargain hunters swooped in to save shares from losses, leading to a green finish on Friday. The benchmark index closed the week’s trading with an increase of 46.30 points, reaching 6,624.79, while all shares were up by 18.75 points, closing at 3,515.81.

Despite the market moving sideways and mostly in the red throughout the session, the presence of bargain hunters allowed the local shares to close in the green, as Philstocks Financial, Inc. research associate Claire Alviar noted. The positive economic data from the United States overnight also contributed to the rise in local shares’ value.

Among the sectors, Industrial led the gainers with 83.38 points growth, ending at 9,369.55. Following closely were Holding Firms, up by 47.15 points to 6,470.77; Property, up by 16.62 points to 2,641.32; Financials, up by 12.49 points to 1,939.83; and Services, up by 4.41 points to 1,581.56. The Mining and Oil sector was the only one that experienced a decline, shedding 17.97 points to reach 10,018.79.

Among the index members, Ayala Land, Inc. stood at the top with a gain of 3.01 percent, while Wilcon Depot, Inc. recorded a decline of 3.81 percent, according to Alviar.

The local bourse was also uplifted by foreign buyers, with a net inflow of PHP468.24 million, contributing to a net market value turnover of PHP5.34 billion on Friday.

Meanwhile, the Philippine peso strengthened against the US dollar on this week’s last day of trading. The local currency gained 0.11, closing at 54.40 on Friday from the previous day’s finish of 54.51 to a dollar.

Since the start of 2023, the US dollar-peso exchange rate has declined by 1.355 or 2.4 percent compared to 55.755 at the end of 2022, according to Rizal Commercial Bank Corp. economist Michael Ricafort. This indicates that the local currency has appreciated compared to its level during the last trading day 2022.

The stock market’s positive performance and the peso’s strengthening bode well for the Philippine economy, providing investors and traders with confidence and optimism. 🇵🇭💪💹

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---