Stock market up 0.13% ahead of long weekend

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No trading on Monday, Friday due to National Heroes’ Day, Eid Al-Adha

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The Philippine Stock Exchange index (PSEi) added 0.13 percent or 10.21 points to finish at 8,015.14 on Friday ahead of a long weekend break that will be followed by a shortened trading week.

The wider All Shares grew 0.19 percent or 9.26 points to settle at 4,749.06.

“Most investors are just staying on the sidelines … Also, it’s ahead of the long weekend and three-day trading week,” First Grade Finance, Inc. Managing Director Astro del Castillo said.

“Most investors opted to stay quiet,” he added.

There will be no trading on Monday, August 28, in celebration of National Heroes’ Day, as well as on Friday, September 1, as Muslims celebrate Eid Al-Adha.

The financials and industrial sectors opted to stay in the red as the week ended, declining respectively by 0.28 percent and 0.08 percent.

Over 1.7 billion issues valued at P6.2 billion changed hands

Advancers and decliners were tied at 97 each while 48 issues were unchanged.

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