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Manila Bulletin devider Business devider The Stock Market devider Stocks continue to rally

Stocks continue to rally

Published Sep 26, 2023 08:50 am

The local stock market jumped on follow through buying aided by lower oil prices. 

The main index surged by 91.10 points or 1.48 percent to close at 6,263.94 as the Property and Banking sectors led the rally across the board. 

Volume was heavy at 6.41 billion shares worth P35.16 billion as gainers trounced losers 115 to 59 with 53 unchanged. 

“Investors changed counters as the newest entry into PSEi, CNPF, was included in latest rebalancing  Meanwhile, the rest of the market realized substantial gains as many continued to digest last week's FOMC meeting,” said Regina Capital Development Corporation Managing Director Luis Limlingan. 

He noted that, “oil prices held steady on Friday but closed the week lower on profit-taking and as markets weighed supply concerns stemming from Russia’s fuel export ban against demand woes from future rate hikes.“
 

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Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan
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