Deal seekers stop PSEi from descending to 6,000
MANILA -The benchmark Philippine Stock Exchange index (PSEi) saw a minor bounce on Wednesday as bargain hunters emerged near the 6,000 support zone, snapping a five-day losing streak.
By the closing bell, the PSEi gained 0.24 percent, or 14.78 points, to 6,054.50 while the broader All Shares index added 0.13 percent, or 4.14 points, to 3,288.83.
Trading activity saw a slight uptick as 977.71 million shares valued at P3.63 billion changed hands, while foreigners were net buyers of an amount worth P20.1 million, data from the stock exchange showed.
Financials gained 0.66 percent, followed by holding firms (+0.58 percent) and industrial (+0.18 percent). Services and property dipped 0.43 percent and 0.42 percent, respectively, while mining and oil slipped 0.17 percent. Bank of the Philippine Islands, the most actively traded stock, declined 0.60 percent to P100 per share.
It was followed by BDO Unibank Inc., up 1.26 percent to P129; International Container Terminal Services Inc., down 0.50 percent to P201; Metropolitan Bank & Trust Co., up 2.97 percent to P53.70; and SM Prime Holdings Inc., flat at P30.20 per share. Overall, there were 80 advancers against 83 losers, while 51 companies closed unchanged, data from the stock exchange also showed.
