Late bargain-hunting lifts stock market

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LAST-minute bargain-hunting buoyed shares on the Philippine Stock Exchange, saving the day from a sharp fall after heavy losses during most part of Monday trading.

The benchmark Philippine Stock Exchange index (PSEi) gained 4.31 points or 0.05 percent to 7,960.17. The All Shares index added 22.83 points or 0.48 percent to close at 4,745.65.

Advancers among the actively traded stocks were SM Prime Holdings Inc., Ayala Land Inc., and Security Bank Corp, while decliners were Metropolitan Bank and Trust Company, Universal Robina Corp., BDO Unibank Inc. and Megaworld Corp.

Out of the six sectoral indices, financials and industrials dropped, while the property index led the advance, with a 1.16 percent gain.


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