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PSEi recovers, peso flat

The Philippine Stock Exchange index (PSEi) recovered yesterday due to bargain hunting but the peso sustained its sideways close against the greenback.

The main equities index rose by 0.53 percent, or 32.96 points, to 6,269.36 points.

All Shares, however, fell by 0.18 percent, or 7.02 points, to 3,850.98 points.

Most of the sectoral indices finished the shortened trading week on the negative and only the Holding Firm gained after it rose by 1.82 percent, as Thursday was declared a regular holiday for Eid al-Fitr, marking the end of Ramadan.

Mining and Oil registered the highest drop with 1.40 percent. Trailing behind were Property, 0.78 percent; Industrial, 0.76 percent; Services, 0.54 percent; and Financials, 0.31 percent.

Volume totaled 4.18 billion shares, amounting to P11.06 billion.

Losers led gainers at 152 to 50 while 52 shares were unchanged.

On the other hand, the peso was barely changed against the US dollar after ending the week’s trade at 47.81 from 47.815 on May 12.

It opened the day at 47.83 and traded between 47.87 and 47.775, averaging at 47.825.

Volume totaled USD634.3 million, lower than the previous session’s USD869.95 million.*PNA

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