Medyo kapos: Mining, oil sector left behind amidst PSEi’s positive performance

The local bourse ended in the green Thursday as it gained 0.94 percent, despite news of below-target Gross Domestic Product (GDP).

The surge, however, was not felt in the mining and oil index as it dropped 3.42 percent.

All Shares went up by 0.98 percent, or 47.22 points, to 4,861.23 points.

PSEi’s 0.94 percent increase is equivalent to 75.25 points concluding it to 8,064.90 points.

The increase followed the previously recorded below the 8,000 mark points on Wednesday and amid the reported below-target domestic output for 2018.

Majority of business sectors had progress except mining and oil falling behind. The sectors were led by Financials, which rose 1.36 percent, and was followed by Services, 1.35 percent; Industrial, 1.21 percent; Holding Firms, 0.75 percent; and Property, 0.23 percent.

An accounted amount of P 7.6 billion was for the stocks volume that reached 1.57 billion.

Regina Capital Managing Director Luis Limlingan said investors “rode the positive sentiment of regional markets” that allowed PSEi to post an increase at the end of Thursday’s trading.