Mining Sector Leads Rally as Media and Tech Stocks Face Headwinds
Posted on 4/27/26
Trading today on the local bourse presented a bifurcated market, with strong gains observed in the mining and resource sectors, while some media and technology-related shares experienced a significant downturn. Investors focused on commodity plays, possibly anticipating continued demand, even as certain high-volatility names saw profit-taking.
Leading the day's advance was Atlas Consolidated Mining and Development Corporation (AT), which surged by 11.18%. The mining giant closed at ₱8.45, adding ₱0.85 to its previous close of ₱7.60. Trading activity was robust, with a volume of 10,034,800 shares exchanging hands, amounting to a total value of ₱84,797,400.00. The strong performance of ATLAS CONSOLIDATED MINING AND DEVELOPMENT CORPORATION reflects a broader positive sentiment in the mining industry, potentially driven by firming global metal prices and renewed interest in resource extraction projects.
Dominion Holdings, Inc. (DHI) followed, climbing by 8.27% to finish at ₱7.20. The stock saw a price change of ₱0.55 from its ₱6.65 previous close, on a volume of 8,916,800 shares, generating a total value of ₱66,907,500.00. East Coast Vulcan Mining Corporation (ECVC), another mining concern, also posted a notable gain of 7.69%, closing at ₱0.28, up ₱0.02 from ₱0.26, though with a smaller volume of 110,000 shares valued at ₱30,500.00.
ABS-CBN Holdings Corporation - Philippine Deposit Receipts (ABSP) defied a generally soft trend for media stocks by increasing 6.75%. It closed at ₱2.69, a gain of ₱0.17 from its ₱2.52 previous close, with 6,000 shares traded for a total value of ₱15,690.00. This uptick for ABS-CBN HOLDINGS CORPORATION could be attributed to ongoing strategic initiatives and partnerships aimed at strengthening its digital presence and content distribution, signaling cautious optimism among some investors despite the challenges faced by traditional media.
Other significant gainers included Petron Corporation Non-Voting Perpetual Series 4E Preferred Shares (PRF4E), up 6.17% or ₱62.00 to ₱1,067.00, and Global Ferronickel Holdings, Inc. (FNI), which advanced 6.15% or ₱0.12 to ₱2.07. Alson Consolidated Resources, Inc. (ACR), a Mindanao-focused power generator, also saw an increase of 5.48% or ₱0.04 to ₱0.77. Cirtek Holdings Philippines Corporation Preferred B-2 Subseries D Shares (TCB2D), Araneta Properties, Inc. (ARA), and CTS Global Equity Group, Inc. (CTS) rounded out the top gainers, with increases of 6.94%, 6.45%, and 5.56% respectively.
On the losing end, GMA Holdings, Inc. - Philippine Deposit Receipts (GMAP) experienced the steepest decline, shedding 13.47% to close at ₱5.01. The media giant saw its price drop by ₱0.78 from its ₱5.79 previous close on a volume of 4,200 shares, totaling ₱21,720.00 in value. The slump for GMA HOLDINGS, INC. could be indicative of the intensifying competition in the media landscape or shifts in advertising budgets, contrasting with the minor gain seen by its competitor's PDRs.
Victorias Milling Company, Inc. (VMC) registered a 9.68% fall, closing at ₱1.96, down ₱0.21 from ₱2.17. A volume of 15,000 shares traded for ₱29,450.00. Pacifica Holdings, Inc. (PA) followed with an 8.24% decrease, ending the session at ₱0.78, a ₱0.07 drop from ₱0.85.
Digital entertainment company DigiPlus Interactive Corp. (PLUS), a notable player in the gaming sector, also declined by 4.58%, closing at ₱14.18, a drop of ₱0.68 from ₱14.86. Despite its large volume of 6,714,000 shares and significant total value of ₱96,125,504.00, the stock faced selling pressure, possibly as investors assess the sector's growth trajectory amid increasing competition or regulatory discussions. Suntrust Resort Holdings, Inc. (SUN), involved in integrated resorts, also ended down 5.08% or ₱0.03 to ₱0.56.
Other decliners included Wellex Industries, Inc. (WIN), down 7.81% or ₱0.025 to ₱0.295; Island Information & Technology, Inc. (IS), falling 7.63% or ₱0.01 to ₱0.121; Lodestar Investment Holdings Corporation (LODE), losing 5.56% or ₱0.02 to ₱0.34; San Miguel Corporation Series ``2`` Preferred Shares – Subseries ``2-P`` (SMC2P), down 5.26% or ₱4.20 to ₱75.65; and Raslag Corp. (ASLAG), a renewable energy developer, dipping 4.39% or ₱0.05 to ₱1.09.
Related:
