PSEi back to 6,800 on bargain-hunting
Investors hunted for bargains after the stock market declined for two days straight, prompting the Philippine Stock Exchange index (PSEi) to return to 6,800 territory on Monday.
The benchmark PSEi rose by 1.03 percent, or 69.87 points, to close at 6,850 while broader All-Shares index climbed by 0.62 percent, or 23.53 points, to settle at 3,811.74.
Philstocks Financial Inc. senior research analyst said the “positive cues from Wall Street’s performance last Friday also helped in the market’s rise.”
Dow Jones, S&P and Nasdaq were up 0.97 percent, 0.35 percent and 0.16 percent ,respectively.
In the green
All subsectors were in the green. Services and holding firms indices were the top gainers with 2.06 percent and 1.84 percent, respectively.
Over 701.36 million shares valued at P9.98 billion were traded. Winners led losers, 94-91, while 64 issues were unchanged.
The most actively traded shares were that of BDO Unibank Inc., which fell by 0.20 percent to P151.70 each.
This was followed by Bank of the Philippine Islands, down 2.38 percent to P131.10; International Container Terminal Services Inc., up 4.53 percent to P415; SM Investments Corp., down 0.11 percent to P882; Manila Electric Co., up 2.22 percent to P496.80; and Ayala Land Inc., down 0.33 percent to P29.90.
Actives
Other active names were SM Prime Holdings, up 0.36 percent to P27.60; PLDT Inc., down 3.70 percent to P1,300; Metropolitan Bank & Trust Co., up 3.53 percent to P79.20; and Century Pacific Food Inc., up 0.61 percent to P41.50.
