Manila—(PHStocks)—Philippine stocks rebounded sharply on Friday, 8 March, as investors hunt for bargains after profiting from the previous day’s strong growth.
The mainboard Philippine Stock Exchange index (PSEi) reached a new record high today, gaining 1.62% or 108.64 points to close at 6.833.77. Market sentiment may have also been swayed by the strong reverberation of growth in the U.S. market, in particular with Dow Jones Industrial Average’s third straight day of record growth.
All counters were back in the green, led by the Holding Firms sector, which posted a 2.2% growth. Meanwhile, the Services index added 1.66% and the Financials came back with a 1.39% gain.
Trading continued to be heavy, with value turnover reaching PhP12.64 billion on 1.68 billion of traded shares. There were 113 gainers against 61 losers, while 40 stocks remained flat.
Leading today’s gainers are the following:
- Lorenzo Shipping Corporation (PSE: LSC): PhP1.60, +11.11%
- First Abacus Financial Holdings Corp. (PSE: FAF): PhP0.87, +10.13%
- Island Information and Technology Inc. (PSE: IS): PhP0.055, +10%
- Splash Corporation (PSE: SPH): PhP1.82, +7.06%
- SM Development Corporation (PSE: SMDC): PhP8.90, +6.33%
- Araneta Properties Inc. (PSE: ARA): PhP1.95, +5.41%
- Philippine Estates Corporation (PSE: PHES): PhP0.61, +5.17%
- IRC Properties Inc. (PSE: IRC): PhP1.28, +4.92%
- ISM Communications Corporation (PSE: ISM): PhP2.20, +4.76%
- SM Investments Corporation (SMIC, PSE: SM): PhP1,100, +4.66%
Below are the biggest decliners today:
- Bankard Inc. (PSE: BKD): PhP1.19, -16.20%
- Manchester International Holdings Unlimited Corp. “B” (PSE: MIHB): PhP14.50, -7.53%
- ATN Holdings Inc. “A” (PSE: ATN): PhP0.92, -5.15%
- Vitarich Corporation (PSE: VITA): PhP0.98, -4.85%
- Philippine Realty & Holdings Corporation (PSE: RLT): PhP0.59, -4.84%
- Oriental Petroleum and Minerals Corporation “A” (PSE: OPM): PhP0.02, -4.76%
- Asia Amalgamated Holdings (PSE: AAA): PhP4.52, -4.24%
- DFNN Inc. (PSE: DFNN): PhP5.30, -3.81%
- Touch Solutions Inc. (PSE: TSI): PhP19.50, -3.47%
- Chemrez Technologies Inc. (PSE: COAT): PhP2.80, -3.45%