The Philippine Stock Exchange index (PSEi) and the peso managed to end the week with gains despite the volatility brought about by anxieties over the coronavirus disease 2019 (Covid-19) pandemic.
The main equities index rose 0.09 percent, or 4.66 points, to 5,346.97 points. All Shares increased by 0.65 percent, or 21.18 points, to 3,259.66 points. Most of the sectors finished on a positive note, led by the Industrial that rose 1.68 percent.
Mining and oil went up by 1.31 percent; Services, 1.29 percent; and Holding Firms, 0.58 percent. Property shed 1.39 percent and Financials, 0.93 percent. Volume totaled 293.3 million shares amounting to PHP4 billion.
Gainers surpassed losers at 98 to 74, while 39 shares were unchanged. “Philippine shares closed slightly higher as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns,” Regina Capital managing director Luis Limlingan said.
Meanwhile, the local currency ended the week at 50.72, better than its 50.85 close the previous day. It opened the day at 50.78, stronger than its 51.00 start on Thursday, and traded between 50.808 and 50.715, bringing the day’s average to 50.758.
Volume totaled USD270.5 million, lower than the USD424.9 million a day ago.