PHILIPPINE STOCK EXCHANGE UP FRACTIONALLY UP ON LATE CHARGE BY INVESTORS
7 May 2020 - The Philippine Stock Exchange today ended up fractionally higher by a quarter of a percent to 5,621.84 points as a late charge by investors erased the losses of some share prices to overturn the doldrums at the start of a thin trade of P4.85 billion.
Ayala Land carried the day for the property sector which was up by a respectable 1.75 percent as investors continued to buy up the stock benefitting from the Duterte apology afterglow. Total trade in Ali was at P249.7 million as it opened at the same price yesterday, went down to P32.95 on profit taking before nosing up anew to finish the day 25 centavos higher at P33.75, its highest price.
Also contributing to the PSE’s rise were the financials and the holdings sectoral indices which turned in gains on , notably by SM Prime and BDO and MBT, which were the top traded stocks at P332 million P275 million and P90 million respectively.
The PSE opened low and it seemed destined for a negative outcome until 30 minutes before the bell when investors rushed to buy up a number of shares to erase a looming 17.4 point decline 30 minutes before the bell to turn in the PSE index higher by 13.89 points.
That last minute rush meant an additional P1.8 billion in total trade that sent the gainers going up from 46 to 63 shares in the last 30 minutes before the bell. Gainers finished the day with 63 shares, as against 112 losers and 42 shares unchanged.