Share prices ended up Wednesday as investors went bargain hunting.
The Philippine Stock Exchange index (PSEi) was up 0.97 points to 6,245.71, a 0.02 percent hike.
The broader all shares index was up 5.51 points to 3,852.90, a 0.14 percent hike.
Gainers edged losers 115 to 82 with 47 stocks unchanged. Trading turnover reached P4.83 billion.
The peso closed at 47.875, down from 47.805 on Tuesday.
It opened at 47.81, hitting a high of 47.77 and a low of 47.894. Trading turnover reached $947.25 million.
Chris Mangun, AAA Southeast Equities head of research, however noted the market “ended absolutely flat as trading volumes on blue-chips due to the recovery of several second and third liners.”
“Substantial gains in small-cap PSEi issues were offset by losses in the larger-cap ones,” he said.
“The main index has started to move sideways again after the massive drop and recovery that we saw last week. This relieved a lot of selling pressure and showed that there are some investors who are willing to hold on for the longer term, in anticipation of the economy’s recovery,” he added.
Most actively traded Dito CME Holdings Corp. was up P2.20 to P9.84. BDO Unibank Inc. was up P0.20 to P102.70. Ayala Land Inc. was down P0.65 to P31.35. Converge Information and Communication Technology Solutions Inc. was up P0.20 to P19.50. AC Energy Corp. was up P0.07 to P6.93. SM Investments Corp. was down P3 to P924. Metro Pacific Investments Corp. was down P0.15 to P3.60. International Container Terminal Services Inc. was up P0.10 to P140. Jollibee Foods Corp. was up P7.70 to P175. Ayala Corp. was up P9 to P719. – Ruelle Castro
