Roundup: Philippine stock market rallies amidst lack of leads on bargain hunting

(TradingMarkets.com)


The Philippine stock market rallied for the fifth time on Tuesday amidst lack of leads on continued bargain hunting.

The benchmark Philippine Stock Exchange index gained 0.15 percent or 4.47 points to 2,967.71, while the all share index rose by 0.01 percent or 0.37 points to 1,884.82.

Trading was thin where only 1.32 billion shares worth 2.29 billion pesos (49.46 million U.S. dollars) were changed hands. Foreign buyers beat sellers 570 million pesos (12.31 million U.S. dollars) versus 525 million pesos (11.34 million U.S. dollars), respectively.

Market breadth was positive where 59 stocks

rose and only 53 tumbled. A total of 46 issues were unchanged.

Two of the six counters closed lower. Industrial and the service sector tumbled by 0.07 percent and 3.32 points to 4,558.36 and 0.29 percent or 4.37 points to 1,477.43, respectively.

Holding firms meanwhile climbed the most and was up by 1.46 percent or 14.46 points to 998.57.

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