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Manila Bulletin devider Business devider Stocks continue rally as quarantine measures eased

Stocks continue rally as quarantine measures eased

Published Mar 1, 2022 04:24 pm

The local stock market continued to regain lost ground as Alert Level 1 took effect in the National Capital Region.

The main index rose 93.60 points or 1.28 percent to close at 7,404.61 as Holding Firms led the rally although the Industrial and Property sectors were in the red. Volume eased to 1 billion shares worth P7.84 billion as gainers beat losers 135 to 60 with 49 unchanged.

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“Philippine shares made another comeback as investors digested the new batch of sanctions from the West to Russia,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “the local bourse continued to be buoyed by the announcement that NCR will be under the most lenient Alert Level 1 classification.”

AB Capital Securities said “Market shrugged off overseas geopolitical risks and rallied on optimism over economic reopening. NCR and 38 other low risk areas officially transition to Alert Level 1 today.”

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Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan AB Capital Securities Inc.
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