NextGen Day

MANILA — Volatility helped the main stock index recover on Thursday after several days of negative closes, but the peso sank against the US dollar.

The Philippine Stock Exchange index (PSEi) increased by 45.54 points, or 0.66 percent, to 6,909.45.

All other counters followed suit, with All Shares rising 0.47 percent, or 17.15 points, to 3,677.48 points.

Financials, 1.04 percent; Holding Firms, 0.70 percent; Services, 0.69 percent; Industrial, 0.56 percent; and Property, 0.05 percent, led the sectoral counters with an increase of 1.27 percent.

A total of 8.5 billion shares worth PHP5.73 billion were traded.

At 92 to 83, advancers outnumbered decliners, with 58 shares remaining unchanged.

“As fears about inflation and global economic growth stirred up greater volatility across risk assets, Philippine equities climbed to recover some recent losses,” said Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC).

Meanwhile, the local currency lost ground against the US dollar, finishing the day at 52.27, down from 52.12 in the previous session.

It started the day at 52.15, a significant improvement from the previous session’s opening of 52.35.

It even rose to 51.96 in mid-trading, but then fell to 52.27.

For the day, the average level was 52.158.

The overall volume was USD1.6 billion, down from USD1.65 billion on Wednesday.

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