MANILA, May 12 (PNA) — The local stock market ended higher for a second day on Tuesday, albeit modest ones, on expectations the Bangko Sentral ng Pilipinas’ (BSP) decision will keep its monetary policy unchanged.
The barometer Philippine Stock Exchange index (PSEi) increased 16.65 points to 7,794.55 from previous day’s 7,777.90 close.
”The BSP-MB’s (Monetary Board) meeting on Thursday could add some fodder to optimists with general expectations pointing to a stay in any moves on interest rates,” said Jun Calaycay, an analyst at Accord Capital Equities Corp.
Calaycay said the risks mainly come from external sources, particularly the developments in Greece.
Counters were mixed, with the market led by industrial, holding firms and services sectors.
The sub-indices of other sectors declined slightly.
Volume of transactions reached 611.73 million shares valued at Php7.23 billion.
Decliners almost equaled advancers, 93 to 92, while 57 issues were unchanged.
The day’s top active stocks were led by Universal Robina Corp., Bank of the Philippine Islands, GT Capital Holdings Inc., Bloomberry Resorts Corp. and Energy Development Corp. (PNA)