PSEi moves sideways as market waits for leads - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The benchmark Philippine Stock Exchange index (PSEi) inched up by 1.64 points or 0.02% to close at 6,566.54 on Wednesday, while the broader all shares index rose by 7.91 points or 0.23% to 3,449.33. READ:

STOCKS moved sideways on Wednesday due to a lack of fresh leads and with some investors picking up bargains as they stay on the sidelines.

“It’s the last day of trading tomorrow so we are expecting a possible window dressing. The market is currently trading less than our average of P5 billion. Most of the investors are on vacation and some are positioning on possible themes for 2023,” Mercantile Securities Corp. Head Trader Jeff Radley C. See said in a Viber message.“It is a wait-and-see scenario due to the recession fears for the first quarter of 2023. The dollar is rallying again and some commodity prices as well,” Mr. See said.

Most sectoral indices closed higher on Wednesday, except for property, which declined by 21.26 points or 0.73% to 2,881.37, and industrials, which lost 10.51 points or 0.11% to end at 9,354.58.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks to move sideways as year comes to a close - BusinessWorld OnlinePHILIPPINE STOCKS may move sideways in the last trading week of the year as investors price in economic concerns that may linger in 2023. The bellwether Philippine Stock Exchange index (PSEi) declined by 35.91 points or 0.54% to close at 6,541.03 on Friday, while the broader all shares index lost 9.79 points or 0.28% to […]
Source: bworldph - 🏆 9. / 68 Read more »