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PSE INDEX IN MUTED RISE
- By The Financial District
- Jun 14, 2021
- 2 min read
The Philippine Stock Exchange (PSE) posted a muted rise today as the market appeared to be showing a hint of weakness following small rises last week and a lack of anchor for firm footing, with second liners getting investors’ attention as a small amount of net foreign buying pushed the index to 6,917.49 points, up by 9.70 points or 0.14 percent.
Net foreign buying amounted to P61 million on foreign selling of P1.695 billion and foreign buying of P1.756 billion with BDO Unibank, Jollibee Foods, and Globe benefitting from foreign buys of P268 million, P103 million, and P88 million, respectively.
BDO rose by P4.40 to P114 and was the most active with trades of P582 million, while Jollibee gained P4 to P207, and Globe by P54 to P1,895.
Value turnover hit P6.322 billion with Ayala Land losing P1.25 to P37.05 with a second-best active trade of P337 million. As a result, the property sub-sector lost 0.59 percent while holding firms was shaved by 0.34 percent and mining and oil by 0.61 percent.
The financials went up by 1.36 percent, industrials, by 0.74 percent, and services, 1.16 percent.
Bank of PI, even with foreign selling of P48 million, got local support to rise by P45 centavos to P86.45, while Security Bank advanced by 80 centavos to P122.80 and PNB gained 35 centavos to P23.40.
PNB’s property dividend of PNB Holdings, which holds its prime real estate properties, is set to be listed by way of introduction, another IPO road for listing.
The second liners got investors’ interest with Ever Gotesco rising by 14 centavos to P0.52 on a hefty trade of P209 million, while Prime Media went up by 21.95 percent closing at P3.50, up by 63 centavos.
Monde Nissin, which bombed out in its IPO listing, also appeared to be in investors’ eyes as it rose by another 64 centavos to P14.68.
Market bellwether SM Investments lost P19 to P1,000, while Dito CME, declined by 18 centavos to P9.42. Another gainer was Ayala Energy, which rose by 13 centavos to P8.00, while D&L Industries was unchanged at P7.98, among the 54 shares that were unchanged. There were 117 gainers and 91 losers.
