PSE INDEX UP IN MUTED RISE
The Philippine Stock Exchange (PSE) index rose today in muted fashion but enough to fire up positive sentiment at the start of the year to close at 7,197.50 points, up by 53.79 points or 0.01 percent.
Value turnover was a hefty P9.848 billion with 124 gainers, 121 losers and 36 shares unchanged, with net foreign selling of P214 million, the financials posting the lone loss among the sub sectors on the foreign sales on bank stocks.
Dito was the day's most active stock as it surged by 19.45 percent to P13.03 on trades of P1.559 billion. The second most active was market darling MerryMart, up by P1.81 to P7.99 on trades of P926 million; and the third most active was Ayala Energy, up by P1.20 to P10.20 with value turnover of P661 million.
BDO Unibank and Metrobank, with net foreign selling of P128 million and P64 million, respectively, pushed down the financials by 0.53 percent.
BPI, however, even with foreign selling of P26 million, bucked it with a P1.05 gain to P82.40.
Market bellwether SM Investments rose by P11 to P1,060 while it's real estate subsidiary SM Prime, backed by net foreign buying of P132 million, gained 75 centavos to P39.25.
PLDT closed higher by P23 to P1,363 while Globe Telecom posted a P12 decline to P2,018.
Converge was up 18 centavos to P15.08, while second liners Global Ferronickel was up by 24 centavos to P2.96; MRC Allied by 3 centavos to P0.62; PHA, up 22 centavos to P1.32.
The PSE index was up a tentative 10 points at opening and then gradually rose to 7,207.79 points after dropping to a low of 7,137.91 points as investors weighed their trading options.