PSEi tops 5,800 as Mynt makes stock market debut
GCash parent Mynt was the most actively traded stock, while declining shares outnumbered gainers across the Philippine market.
Philippine shares posted a fourth consecutive session of gains as GCash parent Mynt Inc. began trading. The Philippine Stock Exchange index (PSEi) finished at 5,806.17, adding 8.27 points, or 0.14 per cent.
Mynt led trading activity and ended at ₱6.60 a share. ICTSI followed, slipping 1.18 per cent to ₱840, while Ayala Corp. rose 1.11 per cent to ₱545. The broader All Shares index settled at 3,234.18 after a 0.02 per cent increase.
RCBC chief economist Michael Ricafort linked the benchmark’s modest rise to Mynt’s listing, which he said could generate further interest in local equities. Philstocks Financial research manager Japhet Tantiangco attributed the positive finish to continued bargain hunting and noted that the index had cleared resistance at 5,800.
Sector performance was mixed. Holding firms gained 1.46 per cent, the strongest advance, while mining and oil dropped 2.13 per cent, the largest decline. Net value turnover totalled ₱8.51 billion. Across the market, 105 stocks fell, 84 rose and 69 were unchanged.
AB Capital Securities said SM Investments, up 2.4 per cent, helped lift the benchmark. It cautioned that turnover excluding GCash was only ₱4.2 billion, leaving the market’s recovery unconfirmed.
