PSEi enters March stronger amid calm income season
Investors finally bought up some shares after selling in the past few days, allowing the Philippine Stock Exchange index (PSEi) to find some relief on Wednesday.
The benchmark PSEi climbed by 0.78 percent, or 50.93 points, to settle at 6,607.13 while the broader All Shares index grew by 0.35 percent, or 12.19 points, to end at 3,539.36.
“To kick off the month, local shares were able to recuperate from the prior meltdown the past couple of days despite the decline in the US markets,” Regina Capital Development Corp. head of sales Luis Limlingan said.
He said investors might have gained confidence from “the better-than-expected releases of corporate earnings.”
Yesterday, Megaworld, Security Bank and Philippine Savings Bank all reported growth in the past year.
In the green
All sectors were in the green except for the financials and industrial indices, which fell by 0.61 percent and 1.13 percent, respectively. Holding firms had the biggest jump at 2.45 percent.
About 715.8 million shares amounting to P7 billion were traded. Losers outpaced winners, 100 to 92, while 44 issues were unchanged.
Globe Telecom Inc.’s shares were the most actively traded, increasing by 1.86 percent to P1,808 each.
It was followed by International Container Terminal Services Inc., down 0.50 percent to P198.80; ACEN Corp., down 0.47 percent to P6.31; SM Investments Corp., up 4.34 percent to P889; BDO Unibank Inc., up 0.49 percent to P124; and Metropolitan Bank & Trust Co., up 5.41 percent to P61.35.
Other active names were SM Prime Holdings, up 2.20 percent to P34.80; PLDT Inc., up 2.57 percent to P1,318; Megaworld, down 0.99 percent to P2; and Bank of the Philippine Islands, down 5.28 percent to P104.
