PSE INDEX UP A BIT

The Philippine Stock Exchange (PSE) index today rose benefitting from net foreign buying of P242 million as share prices see-sawed between the red and green signals to close with a gain of 64.96 points or 0.90 percent to a milestone level of 7,307.81 points.

Value turnover amounted to P7.007 billion with foreign buying of P3.102 billion against foreign selling of P2.860 billion. The gyrations in share prices were evident in the number of shares up of just 98 shares against 132 shares down with 32 shares unchanged. The financials were up 0.92 percent with the banks going up as foreigners were net buyers.

BDO Unibank, powered by foreign buys of P407 million, rose by 90 centavos to P112.40, while Bank of PI, with foreign buys of P36 million, was up 50 centavos to P86.15. Metrobank gained 95 centavos to P49.95, with foreigners buying P63 million.

The day's most active was Premiere Horizon with trades of P630 million, as it rose by 39 centavos to P2.94, followed by Ayala Energy, with P562 million in trading as it also went up by 50 centavos to P6.70.

Basic Energy, which had its share price frozen after going up by 50 percent to P1.05, had value turnover of P560 million.

Market bellwether SM Investments was up P6 to P1,085, while market darling MerryMart gained 22 centavos to P7.36. Food giant, Jollibee declined by P1.70 to P197.80 as foreign selling hit P111 million. Ayala Land also lost 10 centavos to P40.30 with foreigners unloading P144 million.

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