SHARE prices ended up Tuesday on bargain-hunting.
The Philippine Stock Exchange index (PSEi) rose 169.90 points or by 3.03 percent to 5,790.88 while the broader all shares index was up 86.32 points or by 2.61 percent to 3,468.95.
Gainers edged losers 158 to 53 with 32 stocks unchanged. Trading turnover reached P7.38 billion.
The peso closed at 50.63 to the dollar, down from 50.5945 on Monday.
The currency opened at 50.63, hit a high of 50.54 and a low of 50.65. Trading turnover reached $340.4 million.
Stockbroker SB Equities Inc. said the market went up “for the second day running to reach a one-month high on continued optimism over government stimulus measures and evidence that the rate of coronavirus infections has plateaued in some of the world’s epicenters.
“While foreign outflow showed no signs of abating, extending to twenty straight sessions, the PSEi brushed off Wall Street’s weak lead and trekked higher all session on widespread value-hunting,” SB Equities said.
Luis Limlingan, managing director at Regina Capital Development Corp., said many investors “continued to weigh whether (or not) the OPEC (Organization of Petroleum Exporting Countries)+ deal could stabilize the markets.”
Most actively traded BDO Unibank Inc. was up P4 to P102.50. Jollibee Foods Corp. was up P11.50 to P146.50. Ayala Corp. was up P42 to P550. Ayala Land Inc. was up P0.30 to P33.75. Metropolitan Bank and Trust Co. was up P1.85 to P38.85. Pure Gold Price Club Inc. was up P2.95 to P46.95. Globe Telecom Inc. was up P6 to P2,230. SM Investments Corp. was down P2 to P868. SM Prime Holdings Inc. was up P0.80 to P30.90. Metro Pacific Investments Corp. was up P0.11 to P2.61.
