SHARE prices ended mixed Thursday as investors took to bargain-hunting.
The Philippine Stock Exchange index (PSEi) was up 28.45 points to 5,654.70, a 0.51 percent hike.
The broader all shares index was up 8.67 points to 3,408.65, a 0.26 percent hike.
Losers edged gainers 114 to 56 with 53 stocks unchanged. Trading turnover reached P3.77 billion.
The peso closed at 50.445 to the dollar, down from 50.26 on Wednesday.
The currency opened at 50.29, an intraday high, and hit a low of 50.50. Trading turnover reached $565.61 million.
SB Equities Inc. said a late spike in the market saw shares gain “on select bargain-hunting in stocks that could benefit from the partial reopening of the economy.”
Luis Limlingan, managing director at Regina Capital and Development Corp., said investors parked funds into the market as they grappled with regional downbeat remarks from US Fed Jerome Powell along with worries over the market’s valuation.
“Jerome Powell urged Congress and the White House to spend more or face historic economic turmoil,” Limlingan said.
Most actively traded Globe Telecom Inc. was up P66 to P2,170. BDO Unibank Inc. was down P2.20 to P96.80. Ayala Land Inc. was steady at P32.50. SM Prime Holdings Inc. was up P2 to P30.60. SM Investments Corp. was down P16 to P810. Pure Gold Price Club Inc. was down P1.50 to P46.50. Manila Electric Co. was up P5 to P275. PLDT Inc. was was up P12 to P1,201. Universal Robina Corp. was up P1 to P132. Ayala Corp. was down P1 to P690.
