The Philippine Stock Exchange index was up 7.75 points to 6,566.83, a 0.12 percent hike.
The broader all shares index was up 10.63 points to 3,964.78, a 0.27 percent hike.
Gainers edged losers 122 to 94 with 47 stocks unchanged. Trading turnover reached P6.85 billion.
The peso closed at 48.725 to the dollar, down from 48.635 on Tuesday.
The currency opened at 48.65 and hit a high of 48.577 and a low of 48.74. Trading turnover reached $793.7 million.
SB Equities Inc. said investors took to cherry-picking ahead of the results of the Fed meeting while remaining largely cautious on spiking local coronavirus infections and government moves to tighten mobility.
Foreign fund outflow extended to 21 days with foreign investors a net seller of P256.96 million.
Most actively traded SM Investments Corp. was up P2 to P1,005. Dito CME Holdings Inc. was up P0.46 to P10.64. Metropolitan Bank and Trust Co. was up P0.50 to P46.
International Container Terminal Services Inc. was up P2.60 to P127.60.
BDO Unibank Inc. was down P0.80 to P103.80.
Ayala Land Inc. was down P0.10 to P35.65. Boulevard Holdings Corp. was down P0.004 to P0.89.
PLDT Inc. was up P22 to P1,313. Primex Corp. was up P1.35 to P4.20. SM Prime Holdings Inc. was down P0.50 to P35.