PSE CLOSES WEEK WITH SMALL GAINS

The Philippine Stock Exchange (PSE) today bucked a selling pressure and ended with a small gain although the value turnover remained low at P5.454 billion with the locals still absent in the market.

Boosted by the late surge in the property and holding sectors, the PSE index showed a gain of 12.23 points or 0.21 percent to 5,785.09 points even with the continued foreign selling though with a lower net sell-down today of P770 million.

With the boost in share price of Ayala Land even with net foreign selling of P85 million, the rise in the index was boosted at the last minute. ALI closed P1.30 higher to P28.20 though it went down to a low of P26.95 after opening at P27. It closed at its high indicating the late surge in interest among locals.

Market bellwether SM Investments also had a similar trading performance as ALI posting a gain of P9.50 to P846. It had, however, P209 million in net buying that was done in a cross trade. It opened at P835.50 and dropped to a low of P810 and a high of P846. 

Telco stocks PLDT and Globe Telecom posted losses affected by the sell down by foreign investors. PLDT, with net sales of P82 million, went down by P34 to P1416 while Globe, which had selling of P63 million, lost P50 to P2.040.

In the financials, Bank of PI dropped by P2.60 to P65 as it was affected by foreign selling of P53 million while BDO Unibank posted a P1.60 gain to P87.80 as there was no foreign selling for the day.

There were 77 gainers and 104 losers with 51 shares unchanged with foreign selling amounting to P3.390 billion and foreign buying of P2.621 billion.