PH share prices marginally up

Philippine stocks ended marginally up as most investors reportedly stayed on the sidelines during Thursday’s trade.

The benchmark Philippine Stock Exchange Index (PSEi) rose 0.11 percent, or 6.92 points, to 6,327.88 Thursday. The broader all-shares index rose 0.11 percent, or 4.14 points, to 3,864.74.

Subsectors came in mixed, with services and property down by 0.08 percent and 0.91 percent, respectively. Gainers were led by mining and oil and industrial, up 0.87 percent and 0.74 percent, respectively.

Astro del Castillo, managing director at First Grade Finance Inc., noted that investors were also riding on positive sentiments after Wall Street rallied the night before.

He noted that trading was relatively thin, with only 1 billion shares, valued at P6.39 billion, changing hands.

Gainers and losers were almost evenly split, with 74 companies ending higher, while 78 declined. There were 42 companies that closed unchanged.

“We are hoping that some of the liquidity would find its way back to the market with the unlocking of SDAs [Special Deposit Accounts],” he said, referring to the Bangko Sentral ng Pilipinas’ deadline for the withdrawal of SDAs at the end of November.

Alliance Global Group Inc. was the most actively traded as it gained 2.69 percent to P26.7 a share.

This was followed by Philippine Long Distance Telephone Co. (unchanged at P2,800), Megaworld Corp. (+2.51 percent to P3.67), Metropolitan Bank and Trust (-0.06 percent to P80.5), and LT Group Inc. (+2.46 percent to P14.98).—Miguel R. Camus