by PNA
The local bourse continue its rally for the third day this week with the index now above 5,600 level and the
peso moved sideways against the dollar, boosted among others by the strong growth of the domestic economy in the third quarter this year at 7.1 percent.
The composite index was up to another record-high of 5,628.13 points Wednesday morning, higher by 0.75 percent or 41.68 points against the previous record at 5,586.45 level Tuesday.
The broader all shares index was also up by 0.45 percent or 16.35 points to 3,636.93 points from day-ago’s 3,620.58 points.
Most of the sectoral indices were up, led by the property followed by the industrial, holding firms and services.
On the other hand, the financials and the mining and oil indices ended the morning trade on the red.
Value turn-over reached P4.65 billion after 2.2 billion shares changed hands.
Gainers led losers at 80 to 74 while 38 stocks were unchanged.
Relatively, the peso moved sideways against the dollar after opening at 40.90 Wednesday, better-than the 41-flat Tuesday.
It traded between 40.91 and 40.85, resulting to an average of 40.87 for the local unit.
Volume of trade amounted to US$ 350 million.
The National Statistical Coordination Board (NSCB) reported Wednesday the robust growth of the domestic economy fueled by the services as well as private consumption.
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