PH Stocks Curb Decline

Manila—(PHStocks)—Philippine stocks are showing signs of recovery Wednesday, 20 March, as some picks are starting to get attractive amid the continuous drops in prices.

Although the benchmark Philippine Stock Exchange (PSEi) index fell anew, the decline was minimal. The PSEi closed at 6,419.62 – a decrease of only 0.1% or 6.63 points from yesterday. In fact, the PSEi registered gains of up to 45 points late in the afternoon session, before declining again as investors snapped up profits. In fact, the Mining & Oil and the Property indices posted gains of 0.24% and 0.53%, respectively.

The declines in the remaining counters are less than half a percent. The Holding Firms sector was the biggest decliner, losing 0.47%. The Industrials segment, on the other hand, just lost 0.88 points or 0.01%. The wider All-Shares index, meanwhile, shed only 0.15% or 6.26 points.

Trading is still heavy. Value turnover reached PhP13.24 billion, up from PhP10.93 billion yesterday, on traded shares of about 1.86 billion – which is slightly higher than the 1.75 billion shares traded in the previous session.

There were 62 gainers today, up from yesterday’s 59, while decliners were 92 – down from 104 in the previous day. About 45 stocks, meanwhile, remained flat.

Below are the top gainers for the day:

• Filipino Fund Inc. (PSE: FFI): PhP16.50, +27.91%
• Mabuhay Vinyl Corporation (PSE: MVC): PhP2.10, +16.67%
• Bankard Inc. (PSE: BKD): PhP1.09, +6.86%
• Philippine Estates Corporation (PSE: PHES): PhP0.59, +5.36%
• Paxys Inc. (PSE: PAX): PhP2.79, +5.28%
• Lepanto Consolidated Mining Company “B” (PSE: LCB): PhP1.20, +5.26%
• Philippine Racing Club Inc. (PSE: PRC): PhP10.46, +5.13%
• Asia Amalgamated Holdings (PSE: AAA): PhP4.58, +4.81%
• iPeople Inc. (PSE: IPO): PhP11, +4.76%
• IP E-Game Ventures Inc. (PSE: EG): PhP0.023, +4.55%

Below are the biggest stock price losers for the day:

• Medco Holdings Inc. (PSE: MED): PhP0.28, -22.22%
• Alphaland Corporation (PSE: ALPHA): PhP15, -16.67%
• Keppel Philippines Properties Inc. (PSE: KEP): PhP3, -14.29%
• Philippine Realty & Holdings Corporation (PSE: RLT): PhP0.52, -7.14%
• ATN Holdings Inc. “B” (PSE: ATNB): PhP0.95, -6.86%
• Ever-Gotesco Resources & Holdings Inc. (PSE: EVER): PhP0.29, -6.45%
• Prime Media Holdings Inc. (PSE: PRIM): PhP1.81, -5.73%
• Calapan Ventures Inc. (PSE: H2O): PhP4.53, -5.63%
• Cirtek Holdings Philippines Corporation (PSE: CHIPS): PhP17.78, -5.12%
• ATN Holdings Inc. “A” (PSE: ATN): PhP0.95, -5%