Share prices ended up Thursday as investors took to overseas leads to trade the market.
The Philippine Stock Exchange index was up 102.78 points to 6,097.78, a 1.71 percent hike.
The broader all shares index was up 39.76 points to 3,591.74, a 1.12 percent hike.
Gainers edged losers 110 to 73 with 57 stocks unchanged. Trading turnover reached P17.14 billion.
The peso closed at 48.84 to the dollar, down from 49.82 on Wednesday.
The currency opened at 48.90 and hit a high of 48.84 and a low of 48.93. Trading turnover reached $632.1 million.
SB Equities Inc. said the market “rallied past the 6,000 mark to gain for the fourth straight session on Thursday following the surge in US markets as risk appetite continued on optimism over an economic recovery after more stringent quarantine measures are lifted.”
“With cautious optimism over a successful Russian-made coronavirus vaccine also continuing and with MSCI-led outflows expected to be ‘mild’ at the next month-end rebalancing following the latest quarterly review, the PSEi traded in the green all session, amid the debut of AREIT and the release of a host of corporate earnings,” it said.
Luis Limlingan, managing director at Regina Capital Development Corp., said the US market rallied overnight, with volume and volatility down to its lowest for the month “as investors struggled to find new catalyst to push the market higher.”
Most actively traded Areit Inc. was down P2.10 to P24.90. SM Investments Corp. was up P27 to P897. Ayala Land Inc. was up P0.40 to P33.20. Ayala Land Inc. was up P0.40 to P33.20. BDO Unibank Inc. was up P2 to P92. Bank of the Philippine Islands was up P2.35 to P64.85. SM Investments Corp. was up P1 to P31. Globe Telecom Inc. was down P16 to P2,148. GT Capital Holdings Inc. was up P6 to P410. PLDT Inc. was up P7 to P1,387. Pure Gold Price Club Inc. was down P0.40 to P51.60.