PSE INDEX UP

The Philippine Stock Exchange (PSE) index today rose on bargain-hunting even as the property sector, bugged by COVID-19 issues, declined, as the market reopened after a four-day Holy Week holiday to close at 6,495.15 points, up by 52.06 points or 0.81 points.

Foreign investors were still not active in the market as the coronavirus cases continue to surge with net foreign selling amounting to P267 million in another thin trade. Foreign buying amounted to P2.135 billion while foreign selling stood at P2.402 billion with a total turnover at just P5.361 billion with 117 gainers, 85 losers, and 48 issues unchanged.

BDO Unibank was the day's most active stock ending 50 centavos lower to P101.50 with P387 million in trades as foreign investors sold P106 million while Metrobank, which also had foreign selling that amounted to P32 million. was supported by locals with its share price up by 35 centavos to P44.75.

The property sub-sector was the only loser, shedding 0.29 points as Ayala Land declined by 15 centavos to P34.50 as it was hobbled by foreign selling of P96, million.

Market bellwether SM Investments went up by P24 to P984 boosted by foreign buying of P60 million while Metro Pacific, which registered the second top foreign buying of P49 million gained 15 centavos to P3.89. Market darling MerryMart rose by 2 centavos to P5.46.

PLDT and Globe Telecom had mixed showing with the former up by P49 to P1,270 while Globe was down by P40 to P1,840. Converge also lost P30 centavos to P18.40 while Dito CME advanced by 10 centavos to P10.26.

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