The local stock market went through a roller coaster ride this week as the world still grapple with the uncertainty of oil supply, driven by the continuing crisis in Libya. Markets rebounded, however, on news that Saudi Arabia will ensure oil supply. In the Philippines, though, oil prices reached the PhP51 to PhP52 level, as suppliers take advantage of the unstable political environment in the Middle East that has disrupted the oil supply chain.
Nevertheless, the Philippine Stock Exchange index (PSEi) ended the week on a stronger position, growing 3.9% to 3,882.7 points – edging closer to the 3,900 mark. The wider all-shares index likewise ended higher for the week, finishing at 2,927.62 points, up 3.51% from last week. All counters grew as well, with the Property sector posting the biggest gain at 5.46%.
Below are the top 20 gainers during the past week and their last traded price: