MANILA – The local bourse continued to stay in positive territory on Tuesday as investors looked for cheap shares.
The Philippine Stock Exchange index (PSEi) gained 26.59 points to 6,299.05 while the broader All Shares also rose 33.32 points to 3,441.09.
"The local bourse extended its gains, increasing by 26.59 points (0.42 percent) to 6,299.05 as investors continued to hunt for bargain stocks," Philstock Financials, Inc. research associate Claire Alviar said.
"Investors were also anticipating the Bangko Sentral ng Pilipinas (BSP) meeting this week for clues on the timeline of interest rate cuts," she said.
Most sectors were in the green, with Services leading the gainers, increasing by 2.25 percent.
Holdings and Industrials declined by 0.92 percent and 0.18 percent, respectively.
Advancers outpaced decliners at 93 to 92, while 52 shares were unchanged.
Meanwhile, the peso closed almost unchanged at 58.77 to the dollar from its 58.80 finish on Monday.
It opened at 58.73 and traded between 58.70 and 58.777.
The day’s weighted average was 58.741.
Total trade volume rose to USD814.1 million from Monday's USD559.25 million. (PNA)
