Share prices ended up Wednesday on late-session buying.
The Philippine Stock Exchange index (PSEi) was up 36.68 points to 6,949.39, a 0.53 percent hike.
The broader all shares index was up P10.53 points to 4,286.29, a 0.25 percent hike.
Gainers edged losers 90 to 84 with 61 stocks unchanged. Trading turnover reached P5.87 billion.
The peso closed at 50.11 to the dollar, down from 50.025 on Tuesday.
The currency opened at 50.15 and hit a high of 50.07 and a low of 50.20. Trading turnover reached $937.6 million.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said late day buying pushed the market to end up.
“For the most part of the day however, the local market was in red territory, going as low as 6,865.03. This came as investors digested the government’s decision to defer the implementation of GCQ (general community quarantine) with granular lockdowns in the NCR (National Capital Region), leaving the region under MECQ (modified enhanced community quarantine),” he said.
Tantiangco said trading remains tepid.
“Foreign transactions ended in a net outflow of P49.55 million,” he said.
Most actively traded Ayala Land Inc. was up P0.35 to P33.80. Monde Nissin Corp. was down P0.48 to P17.20. PLDT Inc. was down P1 to P1,471. International Container Terminal Services Inc. was up P6.50 to P186.50. Globe Telecom Inc. was steady at P2,790. SM Investments Corp. was up P10 to P1,025. Ayala Corp. was up P3 to P815. Emperador Inc. was down P0.28 to P16.70. AC Energy Corp. was up P0.01 to P10. Converge Information and Communication Technology Solutions Inc. was down P0.25 to P31.75.
