PH shares hover above 8,000

The benchmark Philippine Stock Exchange index (PSEi) consolidated around the 8,000 level on heavier trading volume.

The PSEi gained 0.26 percent, or 20.78 points, to 8,051.76 while the broader all-shares index was up 0.13 percent to or 6.44 points to 4,914.12.

Luis Gerardo Limlingan, managing director at Regina Capital Development, said investors chased bargains after pulling out money ahead of the Independence Day holiday.

Data from the PSE showed that mining and oil as well as property stocks were down among subindices.

Gainers were led by services, up 0.6 percent, followed by financials, up 0.19 percent, and industrial, up 0.15 percent.

As noted, Thursday saw heavier trading action with volume at 993.5 million shares valued at P9.1 billion. Overall, there were 82 gainers against 104 decliners while 52 companies closed unchanged.

Property giant Ayala Land Inc. was the most actively traded on Thursday as it gained 0.98 percent to P51.50 per share.

It was followed by International Container Terminal Services, up 3.13 percent to P148.50; Ayala Corp., down 0.82 percent to P910; BDO Unibank Inc., up 0.07 percent to P140; and PLDT Inc., up 0.08 percent to P1,231 a share.

Other actively traded stocks were SM Prime Holdings Inc., down 0.51 percent to P39.05, Universal Robina Corp., up 0.57 percent to P176; SM Investments Corp., up 0.52 percent to P960; Jollibee Foods Corp., up 1.4 percent to P289; and Globe Telecom, up 0.91 percent to P2,222 a share.