PSEi marginally rises in listless trade

The local bourse was especially lethargic on Wednesday as investors continued to struggle against a lack of spark.

By the end of the session, the benchmark Philippine Stock Exchange Index (PSEi) had added a mere 0.003 percent, or 0.2 point, to close at 6,277.87.

The broader All Shares Index, meanwhile, lost 0.07 percent, or 2.76 points, to end at 3,735.14.

A total of 1.1 billion shares worth P5.76 billion changed hands, stock exchange data showed.

Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said investors tried to look for possible bargains after the recent days’ declines, but most were cautious while waiting for developments that could influence monetary policy decisions.

The Bangko Sentral ng Pilipinas is set to hold its next rate-setting meeting next week.

International Container Terminal Services Inc. was the most actively traded stock as it gained 3.12 percent to P489.80 per share.

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It was followed by DigiPlus Interactive Corp., down 5.5 percent to P28.35; SM Investments Corp., down 1.76 percent to P781; Jollibee Foods Corp., up 2.18 percent to P234.80; and Universal Robina Corp., up 0.12 percent to P83.80.

Others were Bank of the Philippine Islands, down 0.44 percent to P114; BDO Unibank Inc., down 0.83 percent to P142.80; Converge ICT Solutions Inc., up 4.43 percent to P14.62; Ayala Land Inc., up 1.73 percent to P26.50; and Manila Electric Co., down 0.09 percent to P531 each.

Losers outnumbered gainers, 110 to 86, while 49 companies closed flat, stock exchange data also showed.