NextGen Day

On Monday, the Philippine Stock Exchange index (PSEi) finished in the green, although the peso fell marginally versus the US dollar.

The local stock market rose 75.55 points to 7,130.74, up 1.07 percent.

The whole stock market index rose 26.64 points, or 0.58 percent, to 1,585.13.

Except for the Mining and Oil index, which fell 123.06 points, or 1.31 percent, to 9,238.97, all counters completed the day with gains.

Industrial led the gains, with shares rising 76.18 points to 10,383.23.

Services up 38.24 points to 1,976.76, followed by Property, which rose 36.12 points to 3,252.83, Financials, which rose 26.64 points to 1,585.13, and Holding Firms, which rose 18.26 points to 6,814.65.

“Philippine shares were purchased ahead of the announcement of the inflation data, as the country remained free of Omicron cases for the time being. The November CPI (consumer price index) will be reported tomorrow, and many expect it to dip below 4%, which is also within the BSP’s (Bangko Sentral ng Pilipinas) acceptable range,” Regina Capital Development Corp. Luis Limlingan said.

Investors in other countries are still evaluating the impact of the Omicron variation on their open positions, he said.

Meanwhile, the local currency weakened marginally to 50.41 per dollar, down from 50.36 the day before.

The currency pair started the day at 50.41 and fluctuated between 50.32 and 50.44 during the day.

The day’s weighted average was 50.37 cents to the dollar.

The volume of transaction fell to USD690.84 million from USD959.85 million at the previous week’s close.

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