Share prices ended mixed Tuesday on bargain hunting as investors wait for the Bangko Sentral ng Pilipinas’ policy meeting on Thursday.
The peso closed up.
The Philippine Stock Exchange index was up 4.11 points to 6,608.36, a 0.06 percent hike.
The broader All Shares index was up 4.15 points or 0.12 percent to 3,511.91.
Losers edged gainers 98 to 94 with 39 stocks unchanged. Trading turnover reached P4.92 billion.
The peso closed at 57.84 to the dollar, up from 57.86 on Monday.
The currency opened at 57.85 and hit a high of 57.80 and a low of 57.89. Trading turnover reached $1.14 billion.
Analysts at MUFG expect BSP to intervene if the dollar spikes sharply closer to the 58 or 59 levels, Reuters reported.
The BSP is set to announce its monetary policy decision on Thursday, with expectations leaning towards no change in interest rates.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc., said investors hunted for bargains Tuesday.
“Investors maintained a cautious stance however while waiting for the BSP’s policy decision later this week leading to a struggle for the market to find direction. The digestion of the first quarter 2024 corporate earnings helped in bringing the local market to a positive close,” he said.
Most actively traded SM Investments Corp. was up P2 to P887. International Container Terminal Services Inc. was down P7.60 to P353.40. Ayala Land Inc. was up P0.25 to P28.
BDO Unibank Inc. was down P1.70 to P140.10. SM Prime Holdings Inc. was up P0.40 to P27.20. Globe Telecom Inc. was up P30 to P1,860. Universal Robina Corp. was down P1.10 to P109.20. DigiPlus Interactive Corp. was up P0.20 to P13.94. Jollibee Foods Corp. was up P0.40 to P219.20. Ayala Corp. was up P10.50 to P593.50.
