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Manila Bulletin devider Business devider Stocks mixed but index higher

Stocks mixed but index higher

Published Apr 26, 2021 06:00 pm

Share prices rose marginally amid thin trades as some investors opted to pick up cheaper stocks.


The main index gained 11.32 points or 0.18 percent to close at 6,389.38 with only the Industrial and Holding Firms counters retreating.

Photo credit: (https://www.pse.com.ph/)

Turnover was low at 4.51 billion shares worth P5.42 billion as losers outnumbered gainers 116 to 87 with 42 unchanged.

“Philippine stocks shook off early weakness to end higher supported by data indicating acceleration in worldwide economic activity and even faster growth in new home sales,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Senior Analyst Japhet Tantiangco said “Last minute bargain hunting sent the local market higher. However, trading was still anemic as many investors stayed outside of the market amid the lingering uncertainties.”

“In particular, investors are waiting for the government’s decision on the country’s quarantine measures after April 30, 2021,” he added.

Foreigners were still net sellers with net outflows amounting to P700.13 million. Net foreign selling is already on a 17-day streak averaging P805.77 million per day.

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco
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