Local stocks stay on uptrend

Philippine stocks rose again Thursday, holding on to recent gains through Thursday’s session.

The benchmark Philippine Stock Exchange index was up 0.52 percent, or 36.67 points, to 6,873.21 while the broader all-shares index was up 0.52 percent, or 21.54 points, to 4,170.64.

Only the services sector ended in the red, after declining 0.86 percent. All other subindices were up. These were led by mining and oil, up 2.23 percent, followed by holding firms, up 1.02 percent, and property, up 0.63 percent.

Data from the PSE showed that a total of 844.6 million shares valued at P6.17 billion changed hands on Thursday. Moreover, there were 113 gainers against 65 losers while another 47 companies closed unchanged.

Trading activity Thursday was dominated by Ayala Land Inc., which gained 1.31 percent to P31 per share.

This was followed by SM Investments Corp., up 1.18 percent to P642, Metropolitan Bank and Trust, up 3.25 percent to P73, Ayala Corp., up 2.07 percent to P740.