Share prices ended up Thursday as investors took to bargain hunting.
The Philippine Stock Exchange index was up 131.15 points to 6,147.66, a 2.18 percent hike.
The broader all shares index was up 63.44 points to 3,607.80, a 1.79 percent hike.
Gainers edged losers 135 to 62 with 37 stocks unchanged. Trading turnover reached P4.41 billion.
The peso closed at 49.535 to the dollar, down from 49.458. It opened at 49.49, an intraday high, hitting a low of 49.60. Trading turnover reached $368.49 million.
SB Equities Inc. noted the market “bounced from a six-week low and the 6,000-mark in thin trade on Thursday as investors went on a round of bargain hunting amid optimism that the capital region didn’t revert back to stricter quarantine measures despite sustained COVID-19 (coronavirus disease) cases.”
“Despite overseas remittances falling to a 19-year low and foreign outflow extending to nine straight sessions, the PCOMP rose from the open and advanced all day, finishing on its high,” it said.
Luis Limlingan, managing director at Regina Capital Development Corp., said investors also “focused on COVID-19 vaccine hopes and early signs of an upswing in business activity during the pandemic.”
“Regional shares also closed higher amid elevated hopes for a coronavirus vaccine,” he said.
Most actively traded Pure Gold Priceclub Inc. was up P0.15 to P48. Jollibee Foods Corp. was down P3.20 to P133. PLDT Inc. was down P13 to P1,359. BDO Unibank Inc. was up P3.30 to P92.80. Ayala Land Inc. was up P0.90 to P32.90. SM Investments Corp.was up P22 to P933. Ayala Corp. was up P16 to P740. Universal Robina Corp. was up P3 to P122.
Metropolitan Bank and Trust Co. was up P0.80 to P36.70. Bank of the Philippine Islands was up P0.85 to P70.85.
