Share prices ended up Thursday on bargain- hunting with sentiments buoyed by the overnight uptick in Wall Street. The peso also closed up.
The Philippine Stock Exchange index (PSEi) was up 53.03 points or 0.82 percent to 6,483.11.
The broader all shares index was up 24.93 points or 0.73 percent to 3,461.76.
Gainers edged losers 98 to 78 with 49 stocks unchanged. Trading turnover reached P5.84 billion.
The peso closed at 55.60 to the dollar, up from 55.74 on Wednesday.
The currency opened at 55.6 and hit a high of 55.58 and a low of 55.775. Trading turnover reached $986.6 million.
Claire Alviar, analyst at Philstocks Financial Inc., said investors particularly foreign funds picked up on stocks that had been battered by recent sell-offs to post a P315.55 million net buying.
“The bounce of the US markets overnight also helped to lift the sentiment at home. Stocks in the US gained overnight as the view on the US economy improved following the strong ISM non-manufacturing PMI,” Alviar said.
Back at home, good second quarter earnings are still boosting the sentiment, she added.
Most actively traded Ayala Corp. was up P24 to P692.50. Security Bank Corp. was up P1.10 to P82.10. Universal Robina Corp. was down P0.10 to P124.70. PLDT Inc. was up P40 to P1,760. SM Prime Holdings Inc. was up P0.50 to P37.50. Semirara Mining and Power Corp. was up P0.05 to P37.50. Manila Electric Co. was up P4.60 to P316.50. Ayala Land Inc. was up P0.05 to P26. BDO Unibank Inc. was up P1.40 to P118.70. SM Investments Corp. was down P3 to P792. – Ruelle Castro
