PLDT pushes up PH shares

MANILA — The Philippine Stock Exchange Index (PSEi) saw a modest increase on Tuesday, largely driven by the rally of index heavyweight PLDT Inc.

By the session’s finish, the PSEi rose 0.11 percent, or 7.35 points, to 6,879.59 while the broader All Shares index added 0.16 percent, or 5.59 points, to 3,580.31.

The PSEi was bolstered by heaving buying at PLDT, one of the country’s biggest telecommunications and internet providers. PLDT, the most actively traded stock, jumped 6.3 percent to P83 each on over P750 million worth of trades.

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Total volume during the session hit 945.76 million as P5.53 billion worth of shares changed hands. Net foreign buying amounted to P348.86 million, data from the stock exchange showed.

Gainers, losers

Luis Gerardo Limlingan, head of sales at stock brokerage house Regina Capital Development, said the next major catalyst was the upcoming release of US inflation data.

“Economists polled by Dow Jones forecast a monthly gain of 0.4 percent and a 3.1 percent increase on headline,” Limlingan said.

Other actively traded names were BDO Unibank Inc., down 3.09 percent to P150.50; SM Investments Corp., down 0.05 percent to P983; International Container Terminal Services Inc., up 2.45 percent to P309; and Ayala Land Inc., flat at P32.30 per share.

SM Prime Holdings Inc. was unchanged at P31.60; Bank of the Philippine Islands, up 0.08 percent to P118.10; Metropolitan Bank & Trust Co., up 0.81 percent to P62.50; Ayala Corp., down 0.67 percent to P662.50; and Premium Leisure Corp., up 8.11 percent to P0.80 per share.

Overall, there were 109 advancers against 72 losers while 54 companies closed unchanged, data from the stock exchange showed.