Stocks Rise as March Inflation Rate Decreases, Lenten Break Begins

Stocks increased as of 1:41 PM of April 5, 2023, as the Philippine Statistics Authority (PSA) reported on Wednesday that the inflation rate in March 2023 decreased to 7.6 percent from 8.6 percent the previous month.

The Philippine Stock Exchange index (PSEi) increased by 0.30 percent, or 19.62 points, to 6,491.66 points. All Shares followed suit, increasing by 0.17 percent, or 5.87 points, to 3,487.83 points.

Industries also gained traction as sectoral numbers are going up, except for Mining & Oil.

Financials increased by 0.31 percent, or 5.53 points, to 1,779.66 points, while Industrial increased by 0.16 percent, or 15.30 points, to 9,304.29 points.

Holding Firms are also going up by 0.68 percent, or 42.91 points, to 6,342.33 points, while Property is also increasing by 0.33 percent, or 9.03 points, to 2,752.35 points

Moreover, Services increased by 0.10 percent, or 1.63 points, to 1,611.97 points.

Meanwhile, Mining & Oil decreased by 2.05 percent, or 224.08 points, to 10,681.72 points.

This is in contrast to yesterday’s main equities index as it closed with a net negative all throughout due to the then-unreleased inflation report by the PSA.

This is updated as of 1:41 PM. (GFB)