PH index up slightly

Philippine stocks saw a small gain on Monday on the back of thin trading volume as most investors decided to stay on the sidelines amid the lack of major market drivers.

The benchmark Philippine Stock Exchange index was up 0.13 percent, or 10.9 points, to 8,321.98 while the broader all-shares index slid lower by 0.04 percent to 4,871.75.

Data from the PSE showed that most investors stayed away on Monday. A total of 3.6 billion shares valued at P5.6 billion changed hands.

Indices were also mixed during the first trading session of the week. Gainers were financials, holding firms and mining and oil—up 0.74 percent, 0.18 percent and 0.01 percent, respectively.

Losers were led by services, down 0.81 percent, followed by industrial, lower by 0.52 percent and property, down by 0.03 percent. Data from the PSE showed that more companies closed in the red at 122 against 80 gainers while 42 firms ended the session unchanged.

SM Investments Corp. was the most actively traded, with a gain of 1.5 percent to P980 per share.

It was followed by Manila Electric Co., unchanged at P322, Bank of the Philippine Islands, up 0.97 percent to P98.50, PXP Energy Corp., up 9.13 percent to P9.80, and BDO Unibank Inc., up 1.71 percent to P148.70 per share.