Index heavyweights lift PSEi amid ‘second wave’ virus threat

Philippine stocks advanced on Thursday despite worries of a second coronavirus wave around the globe.

By the closing bell, the benchmark Philippine Stock Exchange index (PSEi) rose 1.06 percent, or 66.44 points, to 6,348.45. The broader all-shares index was up 0.43 percent, or 15.89 points, to 3,714.29.

The PSEi was lifted by gains from large-cap companies such as SM Investments Corp., the property, retail and banking conglomerate of the Sy family, and Jollibee Foods Corp.

Subsectors, however, ended mixed. Mining and oil as well as services shrank while gains were led by property, up 1.84 percent, followed by holding firms, up 1.18.

A total of 2.77 billion shares valued at P10.44 billion changed hands on Thursday. Decliners outpaced gainers 124 to 69, while 46 companies closed unchanged.

Newly listed MerryMart Consumer Corp. was the most actively traded as it fell 18.4 percent to P2.75 per share.

It was followed by SM Investments Corp., up 0.73 percent to P963; Emperador Inc., down 0.37 percent to P8.09; Vitarich Corp., up 12.5 percent to P0.90; and Jollibee Foods, up 3.38 percent to P149.90 per share.

Other actively traded companies were Dito CME Holdings, down 1.27 percent to P3.10; Ayala Corp., down 0.06 percent to P790; Metro Pacific Investments Corp., up 2.87 percent to P3.59; Ayala Land Inc., up 1.82 percent to P36.45; and Alliance Global Group, down 1.94 percent to P7.06 per share.