PSE IN MARGINAL RISE
The Philippine Stock Exchange (PSE) posted a marginal rise, in a muted trade as it started in the red and then recovered somewhat in the last trading hour to close at 6,335 points, up by 11.56 points or 0.16 percent, as it hobbled by the continued net foreign selling which hit more than P1.18 billion.
Gainers outpaced losers 125 to 80 with 47 shares unchanged with the value turnover amounting to P6.599 billion as the sub sectors were in positive territory save for the property sector which dropped by 1.13 percent. The financials were up by by 1.42 per cent, industrials, 1.15 percent; holding firms, 0.39 percent; services sector, 0.23 per cent and the mining and oil sector, up 0.75 percent.
Market bellwether SM Investments characterized the positive sentiment with its share price going up by P24.50 to reach P974.50 with total transactions of P441 million, the third most active stock. Third telco Dito was the most active stock with trade of P585.15 million though its share price was down by 20 centavos to P6.62. Globe Telecom and PLDT were similarly down respectively closing at P2,020, down P10 and P1,325, down by P3. Now, another telco player, declined also by 24 centavos to P14.54. Another telco player, Now, also lost 28 centavos to P40,70.
BDO Unibank, with its net foreign selling of P229 million, lost P1.10 to close at P90.00 with its trade of P468 million, the second most active stock. Bank of PI, helped by net foreign buying of P18 million, gained P1.25 to P74.80, while Metrobank, hit by net foreign selling of P29 million, lost 5 centavos to close at P40.70.
Converge dropped by 24 centavos to P14.54 while market darling MerryMart, gained by 23 centavos to P3.68. Jollibee Foods gained by 4.50 to P174.50 while ICTSI was unchanged at P115.
The net foreign selling of P1.18 billion arose from the foreign buying of P2.401 billion and foreign selling of P3.523 billion.
The anemic trading was due to the lack of economic news plus the perceived in the uncertainty of the US elections.