Investors buying cheap stocks lifted the local bourse on Thursday, allowing the Philippine Stock Exchange index (PSEi) to achieve a three-day winning streak.
The benchmark PSEi rose by 0.22 percent, or 14.06 points, to settle at 6,313.11 while the broader All-Shares index climbed by 0.28 percent, or 9.49 points, to close at 3,450.58.
READ: Bargain hunt puts PSEI on winning streak
“Local shares closed slightly above the 6,300 level as bargain-hunting continued before the semester ends,” Regina Capital Development Corp. head of sales Luis Limlingan said.
All subsectors ended in green except for holding firms and mining and oil indices, which dropped by 0.64 percent and 0.12 percent, respectively.
About 323.15 million shares valued at P4.91 billion were traded. Losers led winners, 90-85, while 69 issues were unchanged.
READ: Understanding the Philippine stock market
The most actively traded shares were SM Prime Holdings, ending flat at P27.15 each.
This was followed by SM Investments Corp., down 2.06 percent to P809; BDO Unibank Inc., down 1.55 percent to P127; Ayala Land Inc., up 0.87 percent to P29; International Container Terminal Services Inc., up 1.1 percent to P349.80; and Globe Telecom Inc., up 2.09 percent to P2,050.
Other active names were Bank of the Philippine Islands, 3.48 percent to P116; PLDT Inc., up 2.85 percent to P1,409; Converge ICT Solutions Inc., up 3 percent to P10.98; and Metropolitan Trust & Bank Co., down 2.17 percent to P65.25. —Tyrone Jasper C. Piad