Late rally lifts local stocks

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A late rush of buyers lifted the local stock market out of an otherwise flaccid trading day, with the benchmark Philippine Stock Exchange index (PSEi) closing out the holiday-shortened week with a modest gain.

The PSEi gained 0.25 percent, or 18.02 points to close at 7,360.05, while the broader All Shares added 0.28 percent, or 11.97 points to close at 4,220.58. Gains were spread across the market, with all the sectoral indices ending on a positive except property, which slipped 0.56 percent. Volume was moderate at P6.14 billion, which advancing issues outnumbering decliners 102 to 71, with 39 remaining unchanged.

The market is closed March 24 and 25 (Thursday and Friday) for the Easter holiday, and will resume trading on Monday, March 28.

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