As holidays draw near, consumer-focused firms lift PSEi

The benchmark Philippine Stock Exchange Index (PSEi) pushed higher on Thursday as large holding companies advanced.

By the closing bell, the PSEi added 0.86 percent, or 56.14 points, to 6,576.94 while the broader All Shares index added 0.66 percent, or 22.43 points, to 3,442.26.

Expectations of strong holiday sales lifted consumer-focused conglomerates such as billionaire Andrew Tan’s Alliance Global Group Inc. and the Sy family’s SM Investments Corp.

A total of 3.77 billion shares valued at P6.5 billion changed hands while foreigners were net buyers to the tune of P167 million, data from the stock exchange showed.

Holding firms rose 1.57 percent, followed by property, up 0.75 percent; services, up 0.68 percent; and industrial, up 0.55 percent. Mining and oil and financials dropped 0.37 percent and 0.30 percent, respectively.

Alliance Global was the top traded stock as it jumped 4.21 percent to P11.88 per share.

It was followed by PLDT Inc., down 0.08 percent to P1,249; SM Investments Corp., up 1.87 percent to P926; BDO Unibank Inc., down 0.92 percent to P108; and ACEN Corp., up 0.94 percent to P7.55 per share.

International Container Terminal Services Inc. was up 1.07 percent to P198; Universal Robina Corp., up 1.7 percent to P137.40; GT Capital Holdings Inc., up 3.61 percent to P430; Ayala Land Inc., flat at P29.90; and Bank of the Philippine Islands, down 0.50 percent to P100 per share.

Overall, there were 97 advancers against 77 losers while 53 companies closed unchanged, data from the stock exchange showed.

—Miguel R. Camus