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Manila Bulletin devider Business devider The Stock Market devider Stocks up on window-dressing, bargain-hunting

Stocks up on window-dressing, bargain-hunting

Published Jun 25, 2024 08:19 am

The Philippine Stock Exchange Index (PSEi) added to the previous day’s gains on the back of more bargain hunting and window dressing.

The main index rose by 26.59 points or 0.42 percent to close at 6,299.05 as the Services sector led the advance while Conglomerates and Industrials retreated. Volume dropped to 360 million shares worth P4.17 billion as gainers barely led losers at 93 to 92 with 52 unchanged.

Philstocks Financial Assistant Research Manager Claire Alviar said “the local bourse extended its gains as investors continued to hunt for bargain stocks. In addition, foreign investors were net buyers this session.”

She added that “investors were also anticipating the Bangko Sentral ng Pilipinas (BSP) meeting this week for clues on the timeline of interest rate cuts.” 

Regina Capital Development Corporation Managing Director Luis Limlingan said, “Philippine shares rallied just a point shy of the 6300 level as investors continued to window dress ahead of the end of semester.”

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Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan Philstocks Financial Claire Alviar
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