PSE INDEX DOWN IN RECORD TRADE

The Philippine Stock Exchange (PSE) declined marginally in record value turnover as foreign investors accounted for big trades that saw value turnover hit a record P16.03 billion as it closed at 7,198.45 points, lower by 4.99 points or 0.07 percent.

The financials and the holding firms sub sector recovered at the close to take back the big losses as many of the blue chips came under selling pressure on fears of the spread of Coronavirus in many countries, coupled with the fears on possible disruptions in the forthcoming US inaugural.

Net foreign selling amounted to P1.2 billion with foreign investors buying P4.435 billion, while foreign selling hit P5.645 billion as advancers reached 114, decliners, 115 and 44 shares unchanged.

Included in today's trading were block sales of Victoria Milling, amounting to P562 million, and Century Pacific Food with P350 million.

Second liners again dominated the big trades, with the top five active stocks accounting for about P5 billion in value turnover, bannered by Apollo Global, with P1.35 billion as it gained P0.06 to P0.365.

It was followed by Abra Mining, up by P0.003 to P0.011, with trades of P1.1 billion.

The other active stocks were MRC Allied, up 12 centavos to P0.88 with trades of P907 million; Premiere Horizon, up 24 centavos to P3.10 with trades of P893 million and Basic Energy down 9 centavos to P1.77 with trades of P703 million.

Market bellwether SM Investments posted a P22 gain to P1,072, while market darling MerryMart lost 43 centavos to P7.37. Ayala Land was unchanged at P39.65, while BDO Unibank rose P1.50 to P111.

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