Share prices ended higher yesterday as late session bargain- hunting lifted investor sentiments.
The Philippine Stock Exchange index (PSEi) was up 16.75 points to 6,539.96, a 0.26 percent hike.
The broader all shares index was up 12.96 points to 3,997.58, a 0.33 percent hike.
Gainers edged losers 103 to 100 with 46 stocks unchanged. Trading turnover reached P5.42 billion.
The peso closed at 48.44 to the dollar, up from 48.499 on Wednesday. The currency opened at 48.465 and hit a high of 48.44 and a low of 48.51. Trading turnover reached $699.65 million.
SB Equities Inc. said the late-session uptick follows the reported February overseas remittances which rose more than expected to $2.48 billion, up 5.1 percent from last year.
Sentiment, however, remained “predominantly cautious amid the ongoing concerns over local coronavirus infections,” it said.
“While foreign outflow extended to ten days, the PSEi traded weaker for the bulk of the session, falling as much as -0.9 percent intraday before another late buy-up during the close saw it finish on its highs,” it added.
Foreign funds were net sellers of P591.66 million.
Most actively traded Apollo Global Capital Inc. was up P0.033 to P0.235. Ayala Land
Inc. was up P0.45 to P33.70. BDO Unibank Inc. was up P0.90 to P104.90.
Megaworld Corp. was down P0.13 to P3.35. SM Prime Holdings Inc. was up P0.80 to P36.50. AC Energy Corp. was down P0.21 to P7.18. PLDT Inc. was up P35 to P1,275. Ayala Corp. was down P5 to P764. International Container Terminal Services Inc. was down P0.10 to P126.50. Universal Robina Corp. was down P0.50 to P129.50.
