PSE INDEX RALLY SHORT

The Philippine Stock Exchange (PSE) index today rallied at the close but was short of time to post a fractional loss of 1.68 points or 0.02 percent in hefty trade amounting to P9.256 billion with the gainers numbering 105, the losers, 117 and unchanged for 49 issues.

Second liners again surged in today's trade punctuating into the top 20 active stocks as the holding and services sector posted gains of 0.67 percent and 0.68 percent, respectively, while the financials were down by 0.53 percent, industrials, 0.54 percent, mining and oil, 0.25 percent and the property sector, 0.92 percent.

Net foreign selling amounted to P721 million, with Metrobank accounting for P188 million of the total foreign selling of P3.945 billion as it declined by 20 centavos to P49.80.

SM Prime had P123 million in foreign selling as it emerged as the most active stock with P631 million in trades, in a trading loss of 95 centavos to P37.85.

Bank of PI and BDO Unibank posted respective losses of 20 centavos to P82.80 and 50 centavos to P114.90. Security Bank, also with P49 million in net foreign selling, lost P2.70 to P141.

Market bellwether SM Investments, receiving P133 million in net foreign buying, rose by P19 to P1,094, while Ayala Corp, with foreign selling of P50 million dropped by P9 to P840. Meralco lost P1.80 to P284 on foreign selling of P102 million.

Among the second liners that figured in the Top 20 active stocks included Basic Energy, which posted trades of P461, the second highest for the day, as it gained 3 centavos to P0.465; and MRC Allied, which rose by 14 centavos to P0.62.

The PSE index dropped to a low of 7,236.82 points in mid trade and played catch up though it failed to overcome its initial loss to post a marginal decline in trading that market players cite as a Christmas rally.

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