PSEi closes up 0.65%

The benchmark Philippine Stock Exchange Index (PSEi) closed above the 7,200 level yesterday, lifted by bargain hunters.

Data from the PSE showed the PSEi ended the session up 0.65 percent, or 46.67 points, to 7,233.29. The broader all-shares index was up 0.64 percent to 4,413.44.

Luis Gerado Limlingan, managing director at Regina Capital Development, noted however that the volume remained low.

“The Philippine markets tried to break past the 7,200 with some bargain hunting, although there still hasn’t been enough conviction,” Limlingan said.

A total of 697 million shares valued at about P5 billion changed hands. There were 113 gainers against 73 losers while 54 closed unchanged.

Still, the boost was enough to lift all subsectors yesterday. Financials topped the list as it closed higher by 1.24 percent, followed by industrial, up 0.67 percent, and services, up 0.52 percent.

Metropolitan Bank & Trust was the most actively traded yesterday as it gained 1.4 percent to P68.80 per share.

It was followed by Ayala Land Inc., down 1.22 percent to P36.55; Ayala Corp., up 2.04 percent to P924; BDO Unibank Inc., up 1.16 percent to P131, and Bank of the Philippine Islands, up 2.25 percent to P91 per share.

Other actively traded companies were SM Investments Corp., down 1.12 percent to P880; Jollibee Foods Corp., up 0.41 percent to P246; International Container Terminal Services, down 0.38 percent to P79; PLDT Inc., up 2.16 percent to P1,323, and Aboitiz Equity Ventures, down 0.28 percent to P52.75 per share.