Share prices ended up yesterday as investors took to cherry-picking.
The Philippine Stock Exchange index (PSEi) was up 26.65 points to 7,960.12, a 0.34 percent hike.
The broader all-shares index was up 14.29 points to 4,799.31, a 0.3 percent hike. Losers edged gainers 103 to 91 with 51 stocks unchanged.
Trading turnover reached P7.67 billion.
The peso closed at 51.865 to the dollar, up from 51.905 last week. It opened at 51.88, hit a high of 51.77 and a low of 51.90.
Trading turnover reached $1.07 billion.
Broker SB Equities Inc.said the market went up “as investors bought select blue-chips in anticipation of both Fed and local rate cuts.”
Gabriel Jose Perez, trader at Papa Securities Corp., said yesterday was “an extremely dull day” for the market.
Foreign funds were net sellers of P343 million.
Most actively traded Ayala Land Inc. was up P0.10 to P49.60. Now Corp. was up P0.59 to P3.69. BDO Unibank Inc. was steady at P142.50. Bank of the Philippine Islands was up P3.70 to P92.70. SM Prime Holdings Inc. was up P0.45 to P35. Ayala Corp. was up P6.50 to P907. Metropolitan Bank and Trust Co. was up P0.05 to P70.15. Universal Robina Corp. was up P1 to P169.50. SM Investments Corp. was down P18 to P1,030. Global Ferronickel Holdings Inc. was up P0.01 to P1.64.