Bargain Hunting Fuels PSE Turnaround

Manila—(PHStocks)—Philippine stocks recover Thursday, 29 August, as investors hunt for bargains after massive sell-offs early in the week. The benchmark Philippine Stock Exchange index (PSEi) closed today’s trading at 5,944.21, up by 3.59% or 206.15 points.

All counters are back in the green, led by the Property segment, which gained 4.64%. The Holding Firms sector went up by 4.54%, while the Financials posted a 4.35% growth. The wider All Shares index increased by 3.23%.

Trading was heavy. Value turnover reached PhP9.7 billion on 1.3 billion shares traded. There were 117 gainers against 38 losers, while 34 stocks remained flat.

PSE-29-8-13The most active stocks today include SM Investments Corp. (SM, PhP661.00, 4.26%), BDO Unibank Inc. (BDO, PhP73.30, 7.48%), Alliance Global Group Inc. (AGI, PhP24.65, 6.02%), Philippine Long Distance Telephone Co. (TEL, PhP2,800.00, 0.36%), Metropolitan Bank & Trust Company (MBT, PhP80.20, 4.84%), Ayala Land Inc. (ALI, PhP25.65, 5.12%), GT Capital Holdings Inc. (GTCAP, PhP780.00, 13.04%), LT Group Inc. (LTG, PhP18.00, 12.5%), Ayala Corp. (AC, PhP532.00, 6.4%), and Metro Pacific Investments Corp. (MPI, PhP5.00, 3.52%).

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Top losers:

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