Share prices ended up Monday as optimism continue to inspire investors to buy up stocks. The peso closed up.
The Philippine Stock Exchange index (PSEi) was up 74.53 points, a 1.13 percent hike to 6,681.47.
The broader all shares index was up 28.73 points or 0.83 percent to 3,481.17.
Gainers edged losers 112 to 77 with 40 stocks unchanged. Trading turnover reached P8.68 billion.
The peso closed at 56.64 to the dollar, up from 56.67 on Friday.
The currency opened at 56.80 and hit a high of 56.64 and a low of 56.90. Trading turnover reached $806.9 million.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said the market continued its bullish momentum as investors hope for a slowdown in the Federal Reserve and the local Central Bank’s monetary tightening.
“The peso’s sustained position above the 57.00 per US Dollar level and the decline in global oil prices also gave sentiment a boost. Foreign funds also helped in the rally with net foreign buying for the day registering P914.01 million,” he said.
Most actively traded SM Investments Corp. was up P17 to P927. Ayala Corp. was up P5 to P700. Ayala Land Inc. was up P0.55 to P29.95. BDO Unibank Inc. was down P0.50 to P131. GT Capital Holdings Inc. was up P12 to P470. International Container Terminal Services Inc. was up P13.10 to P198.90. Bank of the Philippine Islands was up P0.30 to P102.40. PLDT Inc. was up P45 to P1,710. Metropolitan Bank and Trust Co. was up P1.10 to P57.25. Jollibee Foods Corp. was down P3 to P249.
