SHARE prices ended up Tuesday on bargain-hunting following the announcement of the inflation data.
The Philippine Stock Exchange index was up 79.20 points to 5,640.01, a 1.42 percent hike.
The broader all shares index was up 32.30 points to 3,93.05, a 0.96 percent hike.
Gainers edged losers 125 to 72 with 43 stocks unchanged. Trading turnover reached P6.36 billion.
The peso closed at 50.68 to the dollar, up from 50.72 on Wednesday. It opened at 50.65, hit a high of 50.625 and a low of 50.80. Trading turnover reached $455.9 million.
“Philippine shares climbed once more, as inflation remained benign, and as the number of new coronavirus cases in the US appeared to slow down,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Limlingan said investors noted the March inflation of 2.5 percent, to trade the market as this is “a slight improvement from the previous month.”
“Transportation costs fell to -1.8 percent, but this was offset by food and household equipment component. European markets rebounded as the previously oversold sector was bought into,” he said.
Most actively traded SM Prime Holdings Inc. was up P0.95 to P31.10. BDO Unibank Inc. was down P1 to P101.50. Ayala Corp. was up P13.40 to P493.40. Jollibee Foods Corp. was up P4.50 to P110.50. SM Investments Corp. was up P28 to P878. Ayala Land Inc. was up P1 to P33.50. Pure Gold Price Club Inc. was down P0.80 to P40.20. Universal Robina Corp. was up P5.90 to P122.60. Metropolitan Bank and Trust Co. was down P0.10 to P37.04.
