PSE INDEX SLIGHTLY UP

The Philippine Stock Exchange (PSE) index was up slightly today but there is still the tentativeness among investors with transactions just average and the much-touted DD Real Estate Investment Trust buckling down a bit to finish at 6,581.80 points, up by 83.39 points or 1.29 percent.

Value turnover was average at P6.104 billion but net foreign selling was higher at P783 million on foreign buying of P2.051 billion and foreign selling of P2.834 billion and DDMPR, the real estate investment trust closed a centavo lower at P2.24 with foreign selling accounting for P263 million out of total trades of P460 million.

The property sub-sector was up by 1.24 percent with Ayala Land up in overcoming foreign selling of P200 million out of its P680 million trade to gain 15 centavos to P35.05 while SM Prime rose by 65 centavos to P35.95.

Market bellwether SM Investments gained P14 to P984 while PLDT lost P2 to P1,248.

But even with the tentativeness arising from the uncertainty of coronavirus cases, optimism abounds with the rise of the index beyond 6,500 points as the technicals remained volatile.

Second liners though exhibited newfound interest from among the investors even with the overhang on the inability of the authorities to show their teeth against the sale of unlisted stocks by officials of Abra mining that led to its suspension.

Basic Energy, Premiere Horizon, and Abacore investments were in the top 20 most active stocks that were led by Ayala Land.

Basic was up 18 centavos to P0.91, Premiere rose by 20 centavos to P2.23 while Abacore rose by 11 centavos to P1.21.

The financials were down by 0.22 percent as Bank of PI lost 75 centavos to P84.05 though Metrobank gained 25 centavos to P46.75. BDO Unibank was unchanged at P105, one of 50 shares that ended unchanged as the number of gainers more than doubled compared to losers, 136 to 62.

WEEKLY FEATURE : BONNER DYTOC SHOWS THE WAY IN STOCK PLAY