PSE INDEX SUSTAINS MOMENTUM

The Philippine Stock Exchange (PSE) index went up anew buoyed by the prospects of the vaccine roll-out that is seen to reignite economic activity, rising by 46.57 points or 0.68 percent to close near a milestone level at 6,919.54 points.

Trading was however mixed as indicated by the muted appreciation of the vaccine roll out with losers ahead of gainers, 121 to 105 with 44 shares unchanged spooked by the continued weakness as a result of the mixed acknowledgment of the announced easing of travel restrictions.

Analysts said that there were LGUs that were not receptive to the announced easing of travel restrictions dampening the initial enthusiasm over the relaxed travel rules. Both the industrials and property sub-sectors gained identical 1.08 percent while the holding firms were the other gainer at 1.40.

The financials were down by 1.41 percent, mining, and oil by 0.54 percent, and services by 0.29 percent.

Value turnover amounted to P9.88 billion, with market bellwether SM Investments posting a gain of P21 or 2.05 percent to P1,046 on trades of P475 million, the fourth most active stock. SM had foreign buying of P34 million.

Net foreign selling amounted to P336 million on 3.656 billion, and foreign selling of P3.656 billion. Ayala Corp had the biggest selling of P65 million, with its share price unchanged at P780.

Metro Pacific lost 11 centavos to P4.06 on foreign selling of P64 million.

Food giant Jollibee Foods broke through a new price barrier as investors pumped in money with foreign buys of P18 million, as it went up by a hefty 4 percent to P186, up P7.20.

Dito CME was the day's most active with trades of P1.324 billion as it lost P1.06 to P15.06, while second liners, Abra Mining and Premiere Horizon were the next most active stocks, respectively going up by P0.0018 to P0.0054 and 22 centavos to P3.14.

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