PSE INDEX RECOVERS

The Philippine Stock Exchange (PSE) index today recovered lost ground after a scary opening and early dip, as investors came in full force, picking up shares that have gone down, with the financials getting much of the interest to close 38.91 points or 0.58 percent up to 6,794.86 points.

BDO Unibank emerged the most active stock with P1.367 billion in transactions, as it rose by P2.30 to P105.50, while two other bank stocks were also in the most active stocks: Bank of PI, which closed at P89, up P4.90 with P469 million in trades, and Metrobank, which added 45 centavos - P50.70 on trades of P404 million, the 10th most active stock.

The financials subsector had the biggest gain as it went up by 2.90 percent, while property rose by 2.14 percent and services were up 0.47 percent.

The three other subsectors posted losses: industrials down by 0.22 percent, holding firms, by 1.00 percent, and mining and oil, by 0.64 percent.

Trading was hefty at P13.73 billion with 121 gainers, 96 losers and 42 shares, unchanged.

Net foreign selling amounted to P972 million, with foreign buying of P6.65 billion and foreign selling of P7.63 billion.

Market bellwether SM Investments buckled under foreign selling of P321 million, as it declined by P29 to P1,009, with trades of P859 million.

Dito CME went up by 14 centavos to P16.14 with trades of P1.157 billion, while Ayala Corp, with foreign selling of P185 million, lost P3.50 to P748. Ayala Land was up by 40 centavos to P39.05, while SM Prime went up by P1.15 to P36.15.

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