Bargain-hunting lifts PH stocks; up 1.38%
Bargain-hunting lifted the Philippine Stock Exchange index (PSEi), allowing the local bourse to conclude the trading week on a high note.
The benchmark PSEi rose by 1.38 percent, or 86.60 points, to close at 6,352.12 while the broader All-Shares index climbed by 0.76 percent, or 27.95 points, to settle at 3,703.73.
Regina Capital Development Corp. head of sales Luis Limlingan said “Philippine shares rebounded after [Thursday’s] sell-off with the investors bargain hunting across the board for undervalued names.”
All the sub sectors ended in the green. Financials and holding firms indices were top gainers after rising by 2.77 percent and 1.12 percent, respectively.
About 993.88 million shares valued at P4.93 billion were traded. Winners led losers, 100-82, while 59 issues were unchanged.
The most actively traded shares were that of BDO Unibank Inc., increasing by 5.07 percent to P145 each.
This was followed by International Container Terminal Services Inc., up 1.27 percent to P399; SM Investments Corp., up 1.71 percent to P835; Synergy Grid & Development Phils. Inc., down 4.44 percent to P12.90; Ayala Land Inc., up 0.19 percent to P25.80; and PLDT Inc., down 1.52 percent to P1,295.
Other active names were SM Prime Holdings, up 1.86 percent to P24.60; Jollibee Foods Corp., up 1.81 percent to P247; Ayala Corp., up 1.77 percent to P575; and Metropolitan Bank & Trust Co., up 0.36 percent to P70.25.
