The local stock market continued to rise as investor sentiment remains buoyant.
The main index gained 35.19 points or 0.49 percent to close at 7,281.35 with only the Property counter retreating.
Volume was slightly lower at 46.02 billion shares worth P8.93 billion with gainers beating losers 134 to 75 as 58 were unchanged.
“The PSEi kickstarted the week as investors made bets ahead additional fiscal stimulus, the BSP meeting on Thursday and the continued Xmas rally,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Philstocks Financial Senior Analyst Japhet Tantiangco said “The positive consumer and business confidence towards the upcoming months as per the Bangko Sentral ng Pilipinas’ survey sent the local market higher.”
He added that, “The US Food and Drug Administration’s approval of Pfizer and BioNTech’s COVID-19 vaccine also helped in extending gains.”
AAA Equities Head of Research Chris Mangun said “Trading today is a clear indication that investors remain confident with current conditions and are willing to hold positions for the longer term.”(JAL)