%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
PSE INDEX RECOVERS ANEW AT THE CLOSE
- By The Financial District
- May 17, 2021
- 2 min read
The Philippine Stock Exchange (PSE) index followed its Friday template recovering at the close after a nervous beginning and sell-down midway until bargain hunters came in, mostly from local money, to push for a 14.22 point rise or 0.23 percent to 6,283.58 points, its highest point for the day.
With foreign money absent from the trading, the blue chips took a beating until past the mid-session with sub-indices turning from red to green as locals pick up stocks that have been oversold, overhauling a big 80-point deficit.
Only the financials and the holding firms posted losses of 0.29 percent and 1.30 percent respectively with the property sub-index turning in a pretty gain of 3.61 percent. Also up were the industrials, which rose by 0.18 points, services, up 0.46 percent, and mining and oil, gaining 0.27 percent.
Ayala Land, together with SM Prime posted hefty gains with the former emerging most active stock with P367 million as it closed P1.75 higher, up 5.61 percent to P32.95, while the latter was up by 2.73 percent or 90 centavos more to P33.90.
Dito CME, which was was the top losing stock, lost 0.89 centavos or 9.90 percent to P8.10, while Market darling MerryMart was the second top loser with a 7.99 percent decline as it posted a 35 centavo decline to P4.03.
Net foreign selling amounted to P354 million on foreign buying of P2.149 billion and foreign selling of P2.503 billion, with Metrobank getting P37 million in buying as it rose by a peso to P45.50. Ayala Energy had foreign buying of P32 million as it gained 21 centavos to P7.11, while market bellwether SM Investments ended 3.48 percent lower to P930.
Food giant Jollibee Foods had foreign selling of P28 million as it went down by 80 centavos to P167.20, while Ayala Corp. lost P5 to P720 on foreign selling of P100 million out of its total traders of P176 million.
The top gainer for the day was Axelum Resources, whose board had been on a buying spree as part of a buyback program ending the day higher by 21 centavos to P3.06 or 9.90 percent, down on a small value turnover of P3.107 million.
Value turnover amounted to a below-average P4.997 billion with 85 shares as gainers, 99 as losers, and 58 shares unchanged. ICTSI and PLDT were two of those shares that were unchanged as they closed at P138 and P1,270, respectively. Both ICTSI and PLDT had identical P17 million in foreign buying.
