Share prices ended higher Tuesday on bargain hunting.
The Philippine Stock Exchange index (PSEi) was up 44.38 points to 7,241.99, a 0.62 percent hike.
The broader all shares index was up 8.9 points to 3,841.69, a 0.23 percent hike.
The peso closed at 50.35 to the dollar, down from 50.32 on Monday.
The currency opened at 50.37 and hit a high of 50.33 and a low of 50.38. Trading turnover reached $651.7 million.
Clair Alviar, analyst at Philstocks Financial Inc., said the market uptick was on the “improving COVID-19 (new coronavirus disease 2019) situation in the country” as investors watched for the result of the central banks’ meetings, particularly that of the US and locally.
“Despite the worries over the Omicron variant, the COVID-19 situation at home continues to improve with the declining trend of the new cases. In addition, the passage of the validity extension of the 2021 national budget on the third reading spurred optimism as well,”Alviar said.
Most actively traded Monde Nissin Corp. was down P0.02 to P16.10. BDO Unibank Inc. was up P2.50 to P127. Metropolitan Bank and Trust Co. was up P1.25 to P52.15. AC Energy Corp. was down P0.28 to P10.60. PLDT Inc. was down P22 to P1,708. Universal Robina Corp. was down P1.20 to P127.30. Bank of the Philippine Islands was up P1.30 to P94.80.
Ayala Land Inc. was steady at P36. International Container Terminal Services Inc. was steady at P195.50. Globe Telecom Inc. was up P18 to P3,418.
