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Local Market Sees Infrastructure and Telecoms Surge, Mining Shares Retreat

Posted on 2/10/26

A dynamic trading session unfolded as several holding companies, key infrastructure players, and a major telecommunications firm posted robust gains, drawing significant investor attention. In contrast, the mining sector experienced a downward trend, reflecting varied market sentiments across different industries.

Notable Advancements Among Top Gainers

Leading the day's upturn was Abacore Capital Holdings, Inc. (ABA), which saw its shares climb by an impressive 10.77%, adding ₱0.035 to close at ₱0.36. The company recorded a substantial trading volume of 33,160,000 shares, culminating in a total value of ₱11,560,200. This rally for Abacore Capital Holdings, Inc. is largely attributed to market optimism surrounding its strategic asset monetization plans and potential expansion into new high-growth segments.

Manila Broadcasting Company (MBC) also delivered a strong performance, rising by 10.05%, or ₱0.63, to reach a Last Done Price of ₱6.90. Despite a modest volume of 600 shares, valued at ₱3,940, the significant percentage gain signals renewed investor confidence, possibly stemming from improved advertising outlooks and media sector recovery.

Medco Holdings, Inc. (MED) followed suit, gaining 10.00% or ₱0.01 to settle at ₱0.11. The stock saw 30,000 shares traded, valued at ₱3,200.

Telecommunications giant DITO CME Holdings Corp. (DITO) also emerged as a prominent gainer, increasing by 9.09% or ₱0.06 to close at ₱0.72. A high volume of 42,274,000 shares changed hands, totaling ₱29,607,000 in value. The continued upward momentum for DITO is likely bolstered by its ongoing aggressive network rollout, expanding subscriber base, and recent partnerships aimed at accelerating its market penetration.

Among the top movers was International Container Terminal Services, Inc. (ICT), which posted a solid 6.35% increase, adding ₱40.00 to close at ₱670.00. This significant advance came with a substantial volume of 1,595,420 shares, generating a total value of ₱1,050,950,020. The robust performance of International Container Terminal Services, Inc. can be linked to strong global trade activity and efficient port operations across its international network, underscoring its resilience and strategic positioning.

Other notable gainers included United Paragon Mining Corporation (UPM), which saw a 6.52% rise to ₱0.0049. Philippine Infradev Holdings Inc. (INFRA) climbed 6.25% to ₱0.34, and Xurpas Inc. (X) also increased by 6.25% to ₱0.255. Cirtek Holdings Philippines Corporation Preferred B-2 Subseries D Shares (TCB2D) gained 6.23% to ₱7.50, and Swift Foods, Inc. (SFI) saw a 6.00% increase to ₱0.053.

Mining and Food Manufacturing Shares Retreat

Conversely, Global Ferronickel Holdings, Inc. (FNI) led the decliners, experiencing a sharp fall of 11.46%, or ₱0.22, to close at ₱1.70. The stock traded 2,815,000 shares, with a total value of ₱5,048,950. This significant drop in Global Ferronickel Holdings, Inc. may be attributed to ongoing fluctuations in global nickel commodity prices and uncertainties surrounding demand from key industrial manufacturing hubs, particularly in Asia.

Axelum Resources Corp. (AXLM), a prominent food manufacturing company, also saw its shares decline by 6.73% or ₱0.14, settling at ₱1.94. A total of 452,000 shares were traded, amounting to ₱900,010 in value. The dip for Axelum Resources Corp. could be influenced by volatile raw material costs, such as coconut products, and competitive pressures in the food and beverage market.

Top Frontier Investment Holdings, Inc. (TFHI) recorded a 6.40% decrease, shedding ₱3.90 to close at ₱57.00, on a relatively small volume of 630 shares. Nihao Mineral Resources International, Inc. (NI) also slid by 6.10%, losing ₱0.025 to end at ₱0.385, with 110,000 shares traded.

Other companies experiencing losses included Alliance Global Group, Inc. Warrants (AGIW) down 5.43% to ₱1.22, ENEX Energy Corp. (ENEX) which fell 5.26% to ₱3.60, and LFM Properties Corporation (LPC) decreasing by 5.13% to ₱0.037. Lodestar Investment Holdings Corporation (LODE) was down 4.44% to ₱0.43, National Reinsurance Corporation of the Philippines (NRCP) slipped 4.05% to ₱0.71, and Harbor Star Shipping Services, Inc. (TUGS) concluded 3.51% lower at ₱0.55.

The day’s trading underscored a selective market, where sectors aligned with infrastructure development and digital connectivity captivated investors, while commodity-linked businesses navigated challenging global price dynamics.