Index up as peso strengthens at P56

The local bourse on Tuesday rebounded by 37.08 points, or 0.56 percent, to close the trading day at 6,650.44 as the peso continued to appreciate the US dollar.

Sectors were split, with Properties leading the gainers up by 1.69 percent, followed by Industrials by 0.56 percent, and Holding Firms by 0.60 percent.

Miners and Banking, on the other hand, were in red, dropping by 1.09 percent and 0.18 percent, respectively.

Among indices, Ty family-led GT Capital Holdings, Inc. gained the biggest by 4.73 percent.

The stock market performed positively as the peso strengthened against the US dollar, Philstocks Financial Inc. senior research analyst Japhet Tantiangco said, adding that investors’ appreciation of second-quarter corporate results also pulled the market up.

The net market value turnover grew to P4.9 billion.

Meanwhile, Decliners outnumber Advancers at 100 to 81, while 64 names remain unchanged.

The peso closed at P56.96 from a dollar.