News Formal

Stocks recover from early losses

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The local stock market managed to recover from early losses on the back of the announcement of a rollback in pump prices on Tuesday. The main index added 26.82 points or 0.42 percent to close at 6,388.64.

The local stock market managed to recover from early losses on the back of the announcement of a rollback in pump prices on Tuesday.

The main index added 26.82 points or 0.42 percent to close at 6,388.64 as Banks led the advance although Conglomerates and Mining firms lagged behind. Volume dropped to 775 million shares worth P3.75 billion as losers beat gainers 101 to 82 with 45 unchanged.

Philstocks Financial Research and Engagement Officer Claire Alviar said “The local bourse gained due to last-minute bargain hunting. Also, the big-time oil price rollback tomorrow helped the bourse to end in the green.” She noted that, “The market traded mostly in the red territory amid a lack of positive catalysts while waiting for the inflation rate in the US.”

 

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:

 /  🏆 25. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Mixed sentiment for stocks this weekWhile the local stock market is seen to be buoyed by prospects of a big drop in pump prices this week, sentiment may continue to be dampened by the weak peso.
Source: manilabulletin - 🏆 25. / 51 Read more »