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Stocks slightly up on window-dressing

The local stock market posted a small gain yesterday on quarter-end window-dressing.

The Philippine Stock Exchange index (PSEi) added 22.63 points, or 0.39 percent, to close at 5,864.23 although the Financials and Industrial counters retreated.

Volume remained weak at 1.07 billion shares worth P5.48 billion as posers edged out gainers 98 to 91 with 49 unchanged.

“Philippine shares ended the quarter on a positive note on window dressing and after digesting the first presidential debate,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

 
AAA Equities Head of Research Chris Mangun said “The PSEi saw a slight rebound led by gains in large-cap property stocks. This may be considered bargain hunting as these issues have been battered heavily in the last few weeks.”


Source: Manila Bulletin (https://mb.com.ph/2020/10/01/stocks-slightly-up-on-window-dressing/?utm_source=rss&utm_medium=rss&utm_campaign=stocks-slightly-up-on-window-dressing)

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