(Last Updated On: September 17, 2022)
The PSE market is continuing its recovery and ended the day on a strong close at 1.43%. Except for the service sector, other indexes of the market started to be more bullish with a follow up gain from last week green closing. The market seem to be moving on a positive note as there are several press release news regarding improvement on TAX collection by the new government, notably including digital services such as Netflix and Spotify.
The index closed with slightly higher traded value at 6.62Billion and with small net foreign buying of 69Million. This is the third day that the foreigners are accumulating shares from PSE market. Index close at 6,822.32.
The index sector was led by Holdings company (2.51%) followed by the Mining index (2.09%)
For the Blue chip index, the market was led by the sudden upsurge in price of Puregold (Pgold, 5.14%) and power companies, Meralco (MER, 3.33%) and Aboitiz Power (AP, 3.28%). Overall 20 out of the 30 Blue chip stocks made a positive move today.
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The market could have move also in accordance to the strong US market finished last Friday closing. S&P 500 closed at +2.47%, Dow Jones closed at +1.76% and Nadaq at +1.78%. Today majority also of ASIAN markets followed the same course of index recovery as most ended green today
You can view our take on PSE Blue chip index stocks through this link.