Market snaps losing streak

The Benchmark Philippine Stock Exchange index ended a losing streak Thursday, with bargain hunters providing a boost.

The PSEi ended the session higher by 0.75 percent, or 59.02 points, to 7,892.05, while the broader all-shares index was up 0.89 percent, or 39.73 points, to 4,518.72.

All sub-sectors closed higher, led by mining and oil, up 1.75 percent, and property, up 1.14 percent. The holding firm subindex was also up 1.04 percent.

A total of 1.04 billion shares changed hands, valued at P9.59 billion, data from the PSE showed. A total of 112 companies gained while another 63 companies ended in the red. Another 54 companies closed unchanged.

SM Prime Holdings Inc. led the list of most actively traded stocks as it gained 2.62 percent to P19.60 a share on Thursday.

This was followed by Universal Robina Corp., up 0.92 percent to P219; Philippine Long Distance Telephone Co., unchanged at P2,900; Metropolitan Bank and Trust Co., down 2.02 percent to P97; and GT Capital Holdings, up 5.47 percent to P1,350 a share. Miguel R. Camus