Stocks end higher on bargain hunting
Published Sep 11, 2020 15:42 pm
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Updated Sep 11, 2020 15:42 pm
The local stock market ended the week on a positive note on Friday as investors continued to pick up bargains.
The Philippine Stock Exchange index (PSEi) rose by 65.57 points, or 1.11 percent, to close at 5,967.96 with only the Financials and Mining and Oil sectors in the red.
Volume dropped to 1.11 billion shares worth P4.18 billion as losers edged out gainers 92 to 90 with 51 unchanged.
“Local shares closed higher as investor hopes for a further recovery took precedence over weak labor market data and a lack of progress on another fiscal stimulus bill in Washington,” said Regina Capital Development Corporation Managing Director Luis Limlingan.