Stock market hits 13th record highest
The local stock market blazed to its 4th high of the month, hitting 5,145.89 level by the close of trade on March 16

MANILA, Philippines – The main index of the local stock exchange hit another record high — its 13th this 2012 and 4th this March — when trading ended on Friday, March 16.

The Philippine Stock Exchange index (PSEi) intially touched 5,100.41 at 1:58 p.m., then kept climbing to close at a fresh high of 5,145.89 by the end of trading.

The PSEi ended 2.27% higher or 114.11 points up — its largest percentage growth since its 2.4% rise on February 17.

For every 8 stocks that dropped, 33 advanced. 42 stocks were unchanged, 32 declined and 132 advanced.

Trade was active as P10.58 billion worth of shares changed hands, with the majority of trade in holding firms.

The stockmarket has been blazing to new highs all month, hitting 5,016.30 on March 2, then 5030.58 on March 5, and its last high of 5,050.99 on March 14. –