Shares up on cherry-picking

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    Share prices ended up Thursday as investors cherry-picked on stocks ahead of the release of quarter earnings.

    The Philippine Stock Exchange index (PSEi) was up 13.03 points to 5,938.33, a 0.22 percent hike.

    The broader all shares index was up 5.53 points to 3,585.62, a 0.15 percent hike.

    Gainers edged losers 80 with 62 stocks unchanged. Trading turnover reached P5.68 billion.

    The peso closed at 48.68 to the dollar, down from 48.65 on Wednesday.

    The currency opened at 48.58 and hit a high of 48.56 and a low of 48.69. Trading turnover reached $829.01 million.

    SB Equities Inc. said the market’s uptick was helped “by an upturn in select large-caps but amid generally cautious sentiment ahead of third quarter earnings and fading chances of US stimulus package before their election.”

    “While August overseas remittances was reported to have unexpectedly fallen, optimism over the eventual passage of the 2021 national budget saw the PSEi trek generally sideways,” SB Equities said.

    Most actively traded Now Corp. was up P0.04 to P5.25. Metropolitan Bank and Trust Co. was up P0.90 to P41.80. MerryMart Consumer Corp. was up P0.21 to P3.40. Dito CME Holdings Corp. was down P0.02 to P6.19. International Container Terminal Services Inc. was up P2.10 to P119. Ayala Land Inc. was was down P0.40 to P29.40. PLDT Inc. was down P12 to P1,278. Metro Pacific Investments Corp. was up P0.02 to P3.97. BDO Unibank Inc. was down P0.10 to P87.50. Puregold Price Club Inc. was down P1.60 to P43.30.