Stock Market

Stocks break through 6,800 barrier

Posted on March 06, 2013 08:36:02 PM | BREAKING NEWS

THE STOCK MARKET rallied to a new all-time after morning trading on Wednesday, surging past the 6,800 barrier for the first time.

The Philippine Stock Exchange index (PSEi) rose by 112.58 points or 1.68% to settle at 6,824.30, while the broader all-share index added 51.35 points or 1.22% to 4,256.72.

The PSEi last peaked on Feb. 28 when it rallied by 105.18 points or 1.59% to close at 6,721.45, its 22nd all-time high for the year, on the back of window dressing activity or month -- end bargain-hunting among blue-chip stocks.

All sectoral indices enjoyed gains and closed in positive territory, led by property that surged by 83.50 points or 3.03% to 2,841.23. Holding firms went up by 100.04 points or 1.72% to 5,904.21, while industrial increased by 124.09 points or 1.25% to 10,044.77. Financials advanced by 20.18 points or 1.11% to 1,834.09, while services gained by 20.15 points or 1.01% to 2,014.44. Mining and oil edged higher by 170.85 points or 0.79% to 21,844.54.

Among actively-traded stocks, Alliance Global Group, Inc. gained by P1.10 or 5.26% to P22.00, while Ayala Land, Inc. added P1.60 or 5.10% to P32.95. JG Summit Holdings, Inc. increased by P1.10 or 2.75% to P41.10.

The main index rose by 74.16 points or 1.12% to close at 6,711.72 yesterday, while the broader all-share index added 33.30 points or 0.80% to 4,205.37. -- FJGDLF