Santa Claus rally? PSEi climbs above 6,500 on large-cap buying


December 23, 2024
5:33PM PHT

The Philippine Stock Exchange index (PSEi) recovered above the 6,500 level on Monday, fueled by strong buying interest in large-cap stocks.

The PSEi added 2.01 percent, or 128.53 points, to 6,534.91, while the broader All-Shares index added 1.4 percent, or 51.40 points, to 3,727.23.

All subsectors closed in the green, led by industrial (+2.97 percent), property (+2.31 percent), and mining and oil (+2.23 percent). Stocks worth P4.2 billion changed hands, while foreigners were net buyers amounting to P255.4 million.

International Container Terminal Services was the top-traded stock as it rose 2.05 percent to P398 per share. 

It was followed by BDO Unibank Inc. (+0.35 percent), Ayala Land Inc. (+5.85 percent), SP New Energy (+0.98 percent), and Bank of the Philippine Islands (+0.91 percent).

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