Finally it happened. The Philippine Stock Exchange index (PSEi) received a much-needed boost yesterday, thanks to the news of PLDT acquiring a majority stake in Digitel.
Since the start of the year, the PSEi has been averaging a downside of 10%. Yesterday, the index jumped 2.98%, up 116.51 points to close at 4,023.74.
The market rally was led by PLDT (stock code: TEL) which gained 15.72% in one day, closing at P2,356. TEL was also yesterday’s most actively traded and top gainer stock.