Share prices ended higher Wednesday, pushing the market to a two-year high as investors are betting on improved economic activities.
The Philippine Stock Exchange index (PSEi) was up 44.25 points to 7,502.48, a 0.59 percent hike.
The broader all shares index was up 22.40 points to 3,951.58, a 0.57 percent hike.
Gainers edged losers 112 to 89 with 58 stocks unchanged. Trading turnover reached P8.41 billion.
The peso closed at 51.34 to the dollar, up from 51.50 on Tuesday. It opened at 51.43, hitting a high of 51.32 and a low of 51.445. Trading turnover reached $992.1 million.
SB Equities Inc. said the market closed to a two-year high, settling above the 7,500-point mark for the first time since February 2020 “amid continued enthusiasm over the re-opening/economic recovery narrative after health authorities reported the fewest number of new COVUD cases yet this year.”
“Aided by a strong lead from Wall Street and a third consecutive day of net foreign inflow, the PSEi extended Tuesday’s gains from the open,” it added.
Most actively traded Ayala Land Inc. was up P1.05 to P37.85. BDO Unibank Inc. was up P2.50 to P138. Bank of the Philippine Islands was down P0.80 to P101.10. Monde Nissin Corp. was up P0.52 to P16.26. International Container Terminal Services Inc. was up P5 to P221. Solar Power Nueva Ecija Corp. was down P0.09 to P2.09. Ayala Corp. was up P12 to P890. Converge ICT Holdings Inc. was up P0.45 to P29. PLDT Inc. was up P49 to P1,934.
Globe Telecom Inc. was down P22 to P3,032. — Ruelle Castro
