Share prices ended higher Tuesday as investors took to bargain-hunting.
The Philippine Stock Exchange index was up 98.18 points to 6,034.03, a 1.65 percent hike.
The broader all shares index was up 46.57 points to 3,604.58, a 1.31 percent hike.
Gainers edged losers 112 to 84 with 46 stocks unchanged. Trading turnover reached P4.57 bilion.
The peso closed at 48.56 to the dollar, up from 48.67 on Monday. The currency opened at 48.65 and hit a high of 48.54 and a low of 48.68. Trading turnover reached $687.37 million.
SB Equities Inc. said the market sustained its gains for a fourth straight session “as optimism over easing fresh coronavirus cases continued after the country reported the least amount of daily infections in eight weeks on Monday.”
Foreign funds, however, were net sellers for 15 straight sessions.
Luis Limlingan, managing director at Regina Capital Development Corp., said investors also looked favorably at the overnight performance of the US markets as stock futures climbed in overnight trading after technology shares suffered their worst sell-off in more than five months on Monday.
Most-actively traded Ayala Land Inc. was up P0.90 to P30.90. Ayala Corp. was up P16 to P718. SM Investments Corp. was up P14 to P908. SM Prime Holdings Inc. was up P0.30 to P29.15. BDO Unibank Inc. was up P3.35 to P93.50. International Container Terminal Services Inc. was up P1.60 to P107.50. PLDT Inc. was up P10 to P1,450. Jollibee Foods Corp. was steady at P138.10. Universal Robina Corp. was up P3.50 to P143.50.