The Philippine Stocks posted its lowest since July, before ending the trading week down by 0.4 percent.
The Philippine Stock Exchange (PSE) wrapped up trading on Thursday, August 20, ahead of the Ninoy Aquino Day holiday on Friday, August 21. The PSEi closed at 6,238.46, down 23.34 points or 0.4% from its Monday, August 17 close of 6,261.80.
The main index had earlier slipped to its lowest level since July 2 on Wednesday, August 19, when it closed at 6,158.34.
On a week-over-week basis, the PSEi fell 0.9 percent, or 58.84 points, from last week’s close of 6,297.30.
According to Japhet Tantiangco of Philstocks Financial, Inc. in a BusinessWorld article, the local stocks’ slumped was heavily influenced by continued global oil price hike and the peso’s weak performance.
Despite the weekly decline, Philippine stock market staged across the board recovery on the final trading day of the week, with all major indices ending Thursday in positive territory.
The Mining and Oil index led the gains, surging 5.04 percent to 19,347.20. It was followed by the Services index, which climbed 2.61 percent to 3,363.12.
The PSEi ranked third, gaining 1.30 percent to 6,238.46. The Holding Firms index rose 1.29 percent to 4,474.51, while the broader All Shares index advanced 1.14 percent to 3,435.23.
The Industrial index increased 0.65 percent to 8,187.94, while the Financials index posted a 0.27 percent gain to 1,942.01.
Trading volume reached 3,475,229,327 shares, with total market value turnover amounting to 8,775,936,428.38 php.
Advancers beat decliners
Advancers outnumbered decliners on Thursday, with 113 stocks gaining against 67 losers, while 66 stocks ended unchanged.
Alsons Consolidated Resources, Inc. (ACR) emerged as the day’s top gainer, jumping 30.00 percent to P1.04 per share.
Cirtek Holdings Philippines Corporation (TECH), meanwhile, led the decliners after falling 17.12 percent to P1.21 per share.
SP New Energy Corporation (SPNEC) was the most actively traded stock of the session, recording 3,090,415,790.00 php in total value turnover.
It was followed by International Container Terminal Services, Inc. (ICT), with 656,628,580.00 php, and SM Investments Corporation (SM), with 408,884,770.00 php.
