PSE INDEX RECOVERS

The Philippine Stock Exchange (PSE) index today recovered lost ground but weakness remained with decliners double that of gainers as it closed 41.49 points or 0.61 percent higher in another hefty trade.

The financials and the mining and oil sub-sector posted losses of 1.06 percent and 1.32 percent, respectively, as net foreign selling reached a low of P95 million on foreign buying of P2.52 billion and foreign selling of P2.616 billion. Value turnover reached P11.07 billion, with decliners swamping gainers 152 to 72, with 34 shares unchanged.

Dito CME emerged as the most active stock with transactions of P4.12 billion as its share price went down by a huge 25 percent - a decline of P3 to P9, although it dropped to as low as P8.50.

ICTSI followed with trades of P568 million as it rose further by 80 centavos to P128.40.

Second liner Apollo Global traded P429 million as it lost P0.045 or 21.43 percent to P0.165.

Market bellwether SM Investments mirrored the trade performance today as it opened at P1,035, hit a high of P1,057, its closing price, but not after dropping to a low of P1,025.

Market darling MerryMart lost its luster as it keeled to a low of P4.69, a decline of 32 centavos as investors continued to be spooked by the reported sale of unlisted shares of Abra Mining that led to its suspension.

Also contributing to the decline was the report of another lockdown looming on the horizon as the government sees a worrisome spike in Coronavirus cases.

BDO Unibank posted a loss of P3 or 2.75 percent as it closed to P105.90 while Metrobank saw a 50-centavo decline to P47.50 even with foreign buying of P99 million out of its trades of P263 million.

Meralco, though, posted a gain of 80 centavos to P278 even with foreign selling of P36 million.

WEEKLY FEATURE : BONNER DYTOC SHOWS THE WAY IN STOCK PLAY