MANILA, Philippines — The stock market opened the week on a positive note, with the benchmark Philippine Stock Exchange Composite index (PSEi) finishing 9.52 points, or 0.13 percent, higher at 7,134.36.
Likewise, the broader All Shares index rose 7.46 points or 0.20 percent to close at 3,782.05.
The sectoral gauges were a mixed bag with industrial and holding firms closing in positive territory. On the other hand, mining and oil, services, property and financials closed in the red.
For the new thematic indices, the PSE Dividend index was lower by 0.03 percent to 1,708.00, while the PSE MidCap was up 0.03 percent to close at 11,95.49.
Total value turnover reached P5.189 billion, with market breadth in the negative. Decliners beat advancing stocks, 94 to 77 while 55 issues were unchanged.
Converge ICT topped the most actively traded stocks yesterday, closing flat at P28.50 per share while SPNEC followed with a one percent increase to close at P2.02 per share.
SM Investments Corp. rose 0.33 percent to finish at P900, while Universal Robina Corp. rallied by 1.03 percent. Razon-led ICTSI was down 2.68 per share to end at P218 per share.
In terms of specific issues, a request from the Tagbanuwa Tandulanen Indigenous People organization was submitted to the PSE requesting for the suspension of the trading of shares of Ayala Land Inc. The PSE received the letter on March 23.
The National Commission on Indigenous Peoples (NCIP), a government agency, earlier issued a cease-and-desist order (CDO) against Ayala-owned Lio airport and tourism estate in Palawan, which is operated by Ayala Land Inc.’s subsidiary Ten Knots Philippines Inc. (TKPI).
Ayala Land, through TKPI, said that all operating properties of Ten Knots Philippines in El Nido have the necessary titles, permits and licenses.
ALI share price was unchanged at P36 per share.