PSE INDEX RISES

The Philippine Stock Exchange (PSE) index today rose on a new bout of optimism with investors discounting the negative sentiments rocking the market to close higher by 43.24 points or 0.63 percent to 6,870.41.

Except for the financials, which dropped by 0.29 percent, all other sub-indices were up, with the holding firms rising by 1.11 percent, the industrials by 1.09 percent, services by 0.57 percent, and mining and oil and property by an identical 0.59 percent.

Net foreign selling amounted to a low P98 million on foreign buying of P1.629 billion and foreign selling of P1.727 billion with a value turnover of P5.218 billion in trading that saw 122 gainers 69 losers and 53 shares unchanged.

Topping the most active stock was second liner Ever Gotesco, which had trades of P261 million, closing down by P0.030 to P0.46.

BDO Unibank and Metrobank bucked the decline in the financial sub-index, closing unchanged respectively at P114.40 and P48.50.

Market bellwether SM Investments advanced by P16 to P1,000 even with foreign selling of P35 million as investors have practically discounted the economic malaise as a result of the COVID-19 pandemic.

Monde Nissin rose by 8 centavos to P14.58, while Ayala Energy went up by 10 centavos to P8.50. PLDT was up by P12 to P1,290 while Converge advanced by 25 centavos to P22.10

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC