PSE index makes six straight days of gains

Last-minute bargain-hunting allowed the Philippine Stock Exchange index (PSEi) to maintain its upward momentum, accomplishing a six-day rally on Tuesday ahead of a holiday.

The benchmark PSEi climbed by 1.49 percent, or 99.31 points, to close at 6,780.78 while the wider All-Shares index improved by 0.94 percent, or 32.81 points, to settle at 3,513.98.

Claire Alviar, Philstocks Financial Inc. assistant manager for research and online engagement, said that investors picking up shares before the closing bell lifted the main index anew.

“So far, optimism persists in the market amid improving investors’ sentiment,” she said.

Alviar pegged the support level at 6,600 and immediate resistance at 6,800 territory.

All sectors ended in the green, except for industrial and mining and oil indices which dropped by 0.77 percent and 0.41 percent, respectively. Property booked the most gains with 3.57 percent.

About 2.23 billion shares amounting to P23.47 billion were traded. Decliners led advancers, 103-88, while 42 issues were unchanged.

GT Capital Holdings was the most actively traded, with shares falling by 6.6 percent to P439.

Following this was Metro Pacific Investment Corp., down 4.16 percent to P3.46; Converge ICT Solutions Inc., down 3.98 percent to P15.46; Ayala Corp., down 0.57 percent to P696; Ayala Land Inc., up 5.18 percent to P31.50; and Jollibee Foods Corp., down 1.61 percent to P245.

Other active names were BDO Unibank Inc., down 0.69 percent to P130.10; SM Prime Holdings, up 3.70 percent to P36.40; Bank of the Philippine Islands, up 3.42 percent to P105.90; and SM Investments Corp., up 1.29 percent to P939.

—Tyrone Jasper C. Piad