PSE Index Up Anew

The Philippine Stock Exchange (PSE) index rose some more today with the last 15 minutes of trading accounting for a significant chunk of the rise showing that investors have apparently discounted the uncertainty over the Delta variant, closing 113.75 points higher or 1.77 percent up to 6,560.06 points.

Photo Insert: The Philippine Stock Exchange (PSE) Index, August 3, 2021

Before the big rush in late buying, the index was just up by less than 30 points but the surge brought the close much higher with gainers much ahead of losers, unlike in Monday's trading where, even with the gain, the losers overwhelmed gainers.

Value turnover remained below average at P4.8 billion but all sub-indices posted significant gains, above 1.5 percent higher with the mining and oil recovering from Monday's decline to close at 2.41 percent up, while the indicators showed the financials up by 2.26 percent, the holding firms by 1.55 percent, industrials, by 1.50 percent, services, by 1.19 percent and property by 2.05 percent.

Aboitiz Equity was the most active stock as it rose by P1 to P39.50 with trades of P448.1 million indicating that investors were cherry-picking for particular blue-chip stocks that pay dividends.

Ayala Land followed with trades of P446 million, rising by 20 centavos to P33.80, while BDO Unibank had the third most trades of P411 million, as it went up by P4.50, a substantial 4.22 percent gain, to close at P111.

Among the stocks that barged into the Top 20 most active stocks were Semirara Mining, which went up by P1.14 or a hefty 6.98 percent to PP17.48, while Suntrust Home gained 6.21 percent as it closed at P1.54, up by 9 centavos, Premiere Horizon went up by 8 centavos to P1.03, and Monde Nissin closed at P15, up by 22 centavos.

Market players are expected to tune in to the earnings report of listed stocks to guide their next moves as the Delta variant is being discounted unless the transmissions surge in another wave.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC