PSEi closes up 0.47%

The benchmark Philippine Stock Exchange index (PSEi) edged higher on Wednesday after a volatile session that saw it swing between gains and losses.

By the closing bell, the PSEi was up 0.47 percent, or 26.11 points, to 5,581.96 while the broader all-shares index was higher by 0.35 percent, or 11.65 points, to 3,371.47.

This comes after a massive advance on Wall Street earlier this week was halted overnight and a mixed showing among Asian indices.

For the PSE, subsectors also ended the session mixed. Gainers were led by mining and oil and financials, up 1.16 percent and 1.15 percent, respectively. Industrial companies and services were the only losers. They declined by 1.27 percent and 0.27 percent, respectively.

Trading volume was light with 316.6 million shares valued at P3.3 billion changing hands yesterday. There were 84 gainers versus 88 decliners while 40 companies closed unchanged.

Property giant Ayala Land Inc. was the most actively tra­ded on Wednesday as it gained 0.31 percent to P32 per share.

It was followed by Bank of the Philippine Islands, up 3.15 percent to P63.95, Globe Telecom, up 2.89 percent to P2,276, Universal Robina Corp., down 2.25 percent to P121.40 and Ayala Corp., up 2.31 percent to P665.

Other active stocks were SM Prime Holdings, up 0.51 percent to P29.65, GT Capital Holdings, down 2.09 percent to P374, BDO Unibank Inc., unchanged at P93, SM Investments Corp., up 1.23 percent to P820 and Megawide Construction Corp., down 1.92 percent to P5.10 per share.