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Stock prices ended Tuesday as investors welcomed news of the advancement of the 2019 novel coronavirus disease vaccine.
The Philippine Stock Exchange index (PSEi) rose 349.63 points to 7,035.48, an increase of 5.23 percent.
The broadest index of all stocks rose 135.35 points to 4,096.47, an increase of 3.42 percent.
The winners outnumbered the losers from 131 to 87 with 35 shares unchanged. Commercial turnover reached P13.08 billion.
The peso closed at 48.27 to the dollar, down from 48.145 on Monday. It opened at 48.24 and reached a high of 48.20 and a low of 48.27. Commercial turnover reached $ 710.6 million.
SB Equities Inc. said the market advanced for the seventh straight session with high volume “amid excitement over Pfizer vaccine test results.”
“Despite Q3 GDP (gross domestic product) contracting more than expected, the local benchmark followed the rally in global equities and jumped from the open, maintaining strong gains throughout the session before finish at their highs, “he said.
SB Equities added that this is the first time the PSEi has closed above the 7,000 mark since February.
SM Investments Corp., the most traded, rose P110 to P1,100. Ayala Land Inc. raised P3.05 to P37.75. SM Prime Holdings Inc. rose P2.245 to P38.30. BDO Unibank Inc. raised P2.85 to P95.50. Ayala Corp. went up from P51 to P840. Jollibee Foods Corp. raised P1.30 to P200.20. GT Capital Holdings Corp. increased from P19.50 to P529.50. Chelsea Logistics and Infrastructure Holdings Corp. rose from P1.24 to P6.30. Bank of the Philippine Islands went up from P3 to P81. JG Summit Holdings Inc. raised P3.60 to P74.
