Share prices closed little changed to firmer on Monday in what an analyst called a “tepid” session, supported by some bargain hunting, when trading resumed after the Lenten week break.
The PSEi gained 3.38 points to close at 6,148 points, a 0.06 percent uptick.
The broader All Shares index dropped 11.68 points or 0.32 percent to 3,645.31.
Losers edged out gainers 109 to 93, with 51 stocks unchanged, as some bargain hunting focused on big-cap stocks.
Trading turnover reached P4.56 billion.
“Philippine shares started off tepidly as investors remained on the sidelines after the Holy Week break to gauge the price action movement of the market at the beginning of the week,” Luis Limlingan, managing director at Regina Capital and Development Corp., said.
Online stock trading platform Philstocks Financial Inc. said investors “resumed their bargain hunting,” helping the benchmark index to close higher.
“Appreciation of corporate fundamentals and hopes that the local economy will weather the storm caused by the US’ tariff policies helped the market climb,” it said.
“Hopes of further monetary policy easing by the BSP (Bangko Sentral ng Pilipinas) also helped,” it added.
Philstocks said the strengthening of the peso against the dollar gave the market a slight boost.
“Sectors were mixed with the miners on top, adding 3.16 percent,” it said.
Most actively traded BDO Unibank Inc. closed up P2.20 at P163.20. Ayala Land Inc. gained P0.25 to P23.95. SM Prime Holdings Inc. dropped P0.70 to P21.90. Bank of the Philippines Islands rose P3.10 to P135.10. Globe Telecom Inc. shed P50 to P2,022. International Container Terminal Services Inc. dropped P0.20 to P340. Century Pacific Food Inc. added P0.55 to P36. APX rose P0.65 to 6.95. Puregold Price Club Inc. added P0.05 to P30. Jollibee Foods Corp. lost P0.20 to P233.80.
