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Stocks rise in selective buying

By James A. Loyola
The local stock market closed higher yesterday on cherry-picking by investors as the pandemic continues to spread.

The Philippine Stock Exchange index (PSEi) gained 32.36 points, or 0.51 percent, to 6,347.43 with only the Holding Firms sector in the red.

A total of 1.21 billion shares worth P7.33 billion changed hands as losers beat gainers 113 to 87 with 47 unchanged.

“Buyers bought selectively into the local market at Market on Close (MOC) after the World Health Organization signaled that the coronavirus pandemic remains a deadly threat,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Source: Manila Bulletin (

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