It seemed there’s no stopping the optimism in the local stock market. Just last Friday after it closed to a another all time high at 6,957.10, I said it will not be impossible for the market to bridge the 7K mark, but I didn’t expect it to be the immediate trading day and that is today.
The PSE’s main index PSEi closed today at 7,120.48 up by 2.35% or 163.38 points. Top gainer in today’s trading was Phinma Corp at 6,866,554 while top loser was Highlands Prime Inc. after going down -11.35% at 20,410.
All other indices are also in the green zone gaining more than 1.0% each except Mining and Oil index which add up 0.80% and Services index which went down -7.24 or -0.36% at 2,026.77. The broader All Shares index went up by 1.69% or 73.55 points and closed at 4,422.22, Holding Firms index jumped the most at 3.71% or 232.35 points closing at 6,488.07, Industrial index on the other hand added 1.35% to close at 10,700.06, Financials index added 2.83% or 50.51 at 1,833.99, and Property index closed at 2,911.03 higher by 2.16% or 61.43 points.
With this historic feat, it’s really evident that Philippines is indeed moving forward to a greater future. What should be a wait and see season for investors because of the upcoming mid-term elections, became a regular trading season as optimism continues to uplift the local stock market. Let’s just hope that this momentum will be sustained even after the election results come out.