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The Philippine Stock exchange Blue chip index managed to close again by 0.76% as news with better than expected GDP growth. Philippine second quarter GDP growth was higher than initially reported. The economy grew by 12%, faster than the 11.8% estimated previously, the Philippine Statistics. In addition the countries covid cases is staying at controlled levels where Alert level 2 for Metro Manila is sustainable.
The index close at 7,396.22 with a net foreign buying of 908.4 Million, second consecutive trading days with high net foreign buying.
The Blue chips stocks were lifted by reversal in direction for Converge ICT (6.02%) and continue up movement of Bloomberrry (4.13%). The decliner is led by Wilcon (-3.52%)
| Gainers | Losers |
| 1CNVRG6.02% | 1WLCON-3.52% |
| 2BLOOM4.13% | 2PGOLD-2.84% |
| 3MEG3.48% | 3SM-2.35% |
| 4GLO3.32% | 4AP-1.80% |
| 5RRHI3.21% | 5ACEN-0.98% |
| 6BDO3.10% | 6LTG-0.75% |
| 7SECB2.85% | 7TEL-0.61% |
| 8MPI2.84% | |
| 9RLC2.77% | |
| 10GTCAP2.39% | |
| 11MBT2.24% | |
| 12JFC1.89% | |
| 13AGI1.86% | |
| 14BPI1.55% |
On the index sector the Finance managed to beat the market movement and closed at 2.23%.
palaboytrader
Joey is the founder of a Philippine Stock Market Youtube channel and also known as “Palaboy Trader”. He does daily review of Trending stocks and teaches basics of Investing and trading. He has the aim to educate Filipinos to be financially independent He is also is an Overseas Filipino Worker Currently working in a Multinational Company in Malaysia