PSE INDEX IN MUTED RISE

The Philippine Stock Exchange (PSE) index posted today a muted rise as the financials wavered in below-average trade with the net foreign selling in a low two digits to close at 7,036.38 points, up by 34.12 points or 0.49 percent.

Value turnover was a low P4.309 billion with 110 gainers, 98 losers, and 51 shares unchanged with the top three active stocks declining in their share prices: Monde with P232 million in trades as it lost 12 centavos to P16.88; BDO Unibank, with foreign selling of P71 million out of its P176 million trades as it went down by P1.10 to P114.30, and ICTSI, shaved by P1.30 to P164 on P167 million in trades.

Market bellwether SM Investments advanced by P2 to P1,020 while Globe, Jollibee Foods, and Puregold benefitted from foreign buying of P95 million, P46 million, and P24 million, respectively. Globe was up by a hefty P35 or 1.86 percent higher to P1,920 while Jollibee finished the day ahead by P3.80 or up by 1.78 percent. PureGold rose by 40 centavos to P41.90.

The industrial sub-index posted the biggest rise with 0.88 percent followed by property with 0.84 percent and then holding firms, up 0.51 percent, services by 0.32 percent, and mining and oil index by 0.39 percent. Net foreign selling amounted to P82 million on foreign buying of P1.188 billion and foreign selling of P1.270 billion.

Second liners Ever Gotesco and Boulevard Holdings, both with looming property plays, were in the most active stocks though with share price losses. Ever lost 5 centavos to P0.49, while Boulevard dropped by P0.0002 to P0.136. Dito also went down by 14 centavos to P8.85, while PLDT was unchanged at P1,327.

The stock market is still in tenterhooks though even with the recent run-up that included healthy foreign buying as the investors digest the multi-faceted aspects of the COVID-19 transmissions that had wreaked havoc on several developed economies.

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