SHARE prices ended higher Tuesday on bargain-hunting.
The Philippine Stock Exchange index (PSEi) was up 124.53 points or by 2.28 percent to 5,574.98.
The broader all shares index was up 52.03 points or by 1.56 percent to 3,394.75.
Gainers edged losers 109 to 78 with 35 stocks unchanged. Trading turnover reached P4.61 billion.
The peso closed at 50.67 to the dollar, up from 50.695 on Monday. The currency opened at 50.69, hit a high of 50.66 and a low of 50.725. Trading turnover reached $368.53 million.
“Local shares climbed as several countries and US states began to ease their coronavirus lockdowns or outlined plans to moderate restrictions,” said Luis Limlingan, managing director at Regina Capital Development Corp.
“US equities reached six-week high as more governors laid out plans for reopening. Global cases have surpassed the three million mark, yet many epicenters are showing signs of slowing,” Limlingan said.
Limlingan noted that while the global confirmed cases of the new coronavirus disease 2019 (COVID-19) passed the three-million mark, New York is looking at opening some regions of the state in May after reporting steady hospitalizations and lower intubations, and fewer than 400 deaths for a second straight day.
“Italy reported the lowest levels of new infections in seven weeks and prepared to begin reopening,” he said.
Most actively traded Jollibee Foods Corp. was up P6.70 to P141.20. Bank of the Philippine Islands was down P0.55 to P58.40. Ayala Land Inc. was up P1.05 to P30.25. PLDT Inc. was down P33 to P1,206. SM Prime Holdings Inc. was up P0.90 to P29.70. Dito CME Holdings Inc. was down P0.06 to P2.03. SM Investments Corp. was up P39 to P819. Puregold Price Club Inc. was steady at P37.50. Metropolitan Bank and Trust Co. was steady at P37.50. BDO Unibank Inc. was up P1.90 to P98.90.
