Stocks up on bargain-hunting

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    Last-minute bargain hunting helped share prices to close mixed as risk-aversion continued to haunt investor sentiment.

    The Philippine Stock Exchange index (PSEi) was up 4.33 points to 6,814.67, a 0.06 percent hike.

    The broader all shares index was down 13.51 points to 4,141.72, a 0.32 percent drop.

    Losers edged gainers 171 to 64 with 37 stocks unchanged. Trading turnover reached P10.67 billion.

    The peso closed at 48.64 to the dollar, up from 48.70 on Monday.

    The currency opened at 48.72 and hit a high of 48.64 and a low of 48.76. Trading turnover reached $1.22 billion.

    SB Equities Inc. said the market pared early losses to finish flat on Tuesday as the market digested President Duterte’s disapproval of a proposed easing of quarantine restrictions to the least restrictive modified general community quarantine for the entire country in March due to lack of vaccine

    “While fears of a prolonged economic contraction, sustained heavy foreign outflows and the largest increase in fresh coronavirus cases since November 8 helped see the PSEi fall as much as 1.1 percent intraday, bargain hunting saw losses pared and the index tracked the regional upswing to finish on its day high,” it said.

    Most actively traded Dito CME Holdings Corp. was down P0.32 to P17.80. Premier Horizon Alliance Corp. was down P0.25 to P2.91. Apollo Global Capital Inc. was up P0.005 to P0.275. SM Prime Holdings Inc. was down P0.25 to P35.50. BDO Unibank Inc. was down P1 to P105. AC Energy Corp. was down P0.16 to P7.45. Metropolitan Bank and Trust Co. was down P0.65 to P50.20. SM Investments Corp. was up P26 to P1,060. Ayala Corp. was up P2 to P762. MerryMart Consumer Corp. was up P0.10 to P7.03.