PSEi gains further momentum

MANILA, Philippines — The local stock market gained further momentum as the year draws to a close, with investors taking advantage of cheap prices.

The bellwether Philippine Stock Exchange index rose by 0.39 percent or 23.73 points to close at 6,065.64.

The broader All Shares index also advanced by 0.50 percent or 17.13 points, settling at 3,464.66.

“The local market closed higher as some investors hunted for bargains, taking positions as the year is about to close,” Philstocks Financial research manager Japhet Tantiangco said.

Tantiangco said that trading, however, has been anemic with net value turnover of P2.77 billion.

“This shows that many investors are staying on the sidelines, focused on the Christmas holidays. The thin value turnover is also seen to show investors’ low confidence towards the local economy’s prospects for 2026, causing them to stay out of the market for the time being,” he said.

Most sectors were in the green, led by the mining and oil index, which surged by 3.18 percent.

Industrial and holding firms, meanwhile, lost by 0.20 percent and 0.08 percent, respectively.

Market breadth was positive as advancers squashed decliners, 107 to 80, while 60 issues were unchanged.

BDO was the session’s most actively traded stock, climbing by 1.50 percent to P135 per share, followed by ICTSI and SM Prime which jumped by 0.88 percent and 2.61 percent, respectively, to P570 and P23.60.

Among index members, Aboitiz Equity Ventures posted the biggest gain at 3.58 percent, while DigiPlus Interactive lost the most with a 4.53-percent drop.