PSE INDEX DOWN AS MONDE BOMBS OUT

The Philippine Stock Exchange (PSE) index went down fractionally to 6,627.43, down 1.06 points or 0.02 percent as Monde bombed out in its IPO listing.

Total value turnover was a hefty P14.77 billion with Monde Nissin emerging as most active with trades of P3.21 billion as it finished lower by 2 centavos to P13.48 undercutting the optimistic assessments on its huge IPO and wreaking havoc on the market.

There was a net foreign buying though of P341 million with BDO Unibank and Ayala Land getting foreign buys of P341 million and P108 million, respectively, as they rose by P2.10 to P105.80 and 60 centavos to P35.

Another property firm, SM Prime also posted a 60 centavo rise to P36.60 as foreign buying hit P54 million that led to a rise in the property index by 1.57 percent.

The financials also went up by 1.11 percent with support from the Bank of PI which had foreign selling of P49 million of its P117 million trade as it rose by 30 centavos to P84.30.

The industrials, holding firms, services, and mining and oil posted losses in trade that had foreign buying of P11.901 billion and foreign selling of P11.650 billion. There were 107 gainers, 101 losers, and 41 shares unchanged.

Market bellwether SM Investments declined by P9.50 to P960.50 as foreign selling hit P40 million. Dito CME rose by 31 centavos to P9.70 while PLDT declined by P14 to P1,301 while Ayala Corp lost P14 to P780. Jollibee Foods went down by P4.40 to P188.50.

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