NextGen Day

MANILA, Philippines – Thursday’s main stock index rose again on bargain hunting, while the peso ended the day flat against the US dollar.

The Philippine Stock Exchange index (PSEi) increased by 73.18 points, or 1.04 percent, to 7,082.61 points.

Following that, All Shares gained 0.93 percent, or 34.60 points, to 3,759.35 points.

The majority of sector indices also increased during the day, with Mining and Oil up 4.92 percent, Holding Firms up 2.25 percent, Services up 1.65 percent, and Industrial up 0.93 percent.

Property, on the other hand, fell 0.53 percent, while Financials fell 0.008 percent.

The total volume traded was 15.09 billion shares worth PHP7.83 billion.

At 108 to 64, advancers outnumbered decliners, while 58 shares remained unchanged.

Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC), said “investors placed bets” on the policy-making Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) following the day’s rate-setting meeting.

As expected, the MB maintained the central bank’s key interest rates at their current levels. This, despite the fact that the Bank raised its average inflation forecasts for both 2022 and 2023, owing largely to the increase in oil prices on the international market.

Limlingan noted that BSP Governor Benjamin Diokno has repeatedly dismissed the need to replicate the Federal Reserve’s rate hike decision, “reinforcing the notion that the benchmark rate will remain unchanged even as the Ukraine war drags on.”

“Investors also lauded Executive Order 166, a ten-point policy agenda recommended by the Economic Development Cluster aimed at hastening the economy’s recovery from the pandemic,” he added.

Meanwhile, the local currency ended the day at 52.33, slightly lower than yesterday’s close of 52.39.

It began the day at 52.41, nearly unchanged from the previous session’s start of 52.42.

Between 52.43 and 52.15, it traded, bringing the day’s average to 52.364.

Volume was USD960.95 million, down from USD1.02 billion in the previous session.

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.

---