The main index added 17.46 points or 0.28 percent to close at 6,286.24 as the Mining and Oil index led the advance with only Banks retreating. Volume was thin at 1.06 billion shares worth P3.79 billion as gainers beat losers 99 to 77 with 51 unchanged.
He noted that, investors were also heartened by expectations of further drops in oil prices if the US Federel Reserve hikes rates again. Philstocks Financial Research and Engagement Officer Claire Alviar said “The local bourse closed in the green, as investors continue to bargain hunt from last week’s decline.”
“However, during the intraday, the market moves sideways amid a lack of fresh leads. Some investors were also on the sidelines seen by weak market participation,” she added.