PH Stocks Rally, Regain Foothold at 6,100

Manila—(PHStocks)—Philippine stocks rallied today after two consecutive days of declines amid profit taking (See here and here). As if driven by optimistic forecasts by the International Monetary Fund (IMF), which raised its 2013 growth forecast for the Philippines on the back of consumer spending, rising domestic investments and public spending, the bellwether Philippine Stock Exchange index (PSEi) gained 0.41% to close the trading day at 6,117.27 – back in the 6,100-point range.

All counters – except for the Holding Firms and Mining and Oil sectors, which continued their declines – have recovered. The Property and Financials segments meanwhile continued their rally, gaining 0.97% and 0.91%, respectively.

About 1.73 billion shares changed hands today, with a turnover of PhP5.97 billion. There were 77 winners and 74 losers, while 51 stocks remained flat.

Below are the top gainers for the day:

Below, meanwhile, are the top 10 decliners:

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