After going through “bloody” days for the past 5 trading sessions, the Philippine Stocks Exchange is now back again to the green zone. The PSE main index closed today 5.70% higher or 329.88 points up against yesterdays close at 6,118.94, this after plunging yesterday to its lowest close since June 3, 2013 at 5,789.06. Today’s gain also sets a record of biggest 1-day gain since 2007. Market analyst said bargain-hunters of oversold stocks used the opportunity to buy stocks when the market went back to bear territory.
According to PSE Chairman Jose T. Pardo, PSE’s big recovery today is a result of solid fundamentals that did not changed even with the volatilities in the past weeks. In a statement he said “Against a backdrop of solid fundamentals that have not changed even amidst the volatilities in the past weeks, the declines have served to put some stocks at attractive prices. I think this is what we saw today with the strong recovery of the market.”
All other indeces were also in the green zone, with Holding Firms index gaining the most at 6.91% or 351.75 points to close today at 5,443.69. The broader All Shares index is also up at 3,759.67 adding 4.77% or 171.03 points from its previous close. Industrial index followed the most gainer today at 9,421.73 gaining 6.87% or 606.04 points. Property index also had a good gains today with 6.11% increase or 140.06 points at 2,431.07. Financials index, and Services index were also up at 4.38% and 3.30% to close at 1,563.14 point and 1,837.13 points respectively. While Mining and Oil index posted the least gains of 2.48% or 308.60 point at 12,776.80.
Advancers practically dominated Decliners at 146-34 ratio with 30 unchanged. Biggest gainer in today’s trading was Federal Resources Investment Group at 2,826 adding 28.00% while top loser went to Chemical Industries of the Phils. at 33.33% and a value of 1,464. Most active stocks was SM Investment Corp at 968, up by 6.37%.
Total volume traded was 1,580,387,306 with total value of 9,633,996,948.