PSE NEARS MILESTONE LEVEL
The Philippine Stock Exchange (PSE) whizzes near it's milestone level today encouraged by the rise in share prices to close 54.53 points or 0.92 percent to P5,999.40 points.
It was an unprecedented run today with market punters bidding up share prices after dropping to a low of more than 70 points. All indices, for the first time, posted gains with the property, holding firms, financials and industrials posting above 0.80 per cent rises.
Net foreign selling dropped to P268 million on foreign buying of P1.138 billion and foreign selling of p1.407 billion. SM Prime had foreign buying of P104 million as it closed unchanged at P30 per share, while Metrobank and BDO Unibank had p35 million and P20 million in foreign buying.
Market bellwether SM Investments lost P4 to close at P886. It had foreign selling of P23 million. PLDT and Globe Telecom gained P24 and P20 respectively to close at P1,364 and P2,120.
Dito was again the most active stock with its share price closing 46 centavos higher to close at P5.76 with transactions of P1.12 billion. MPIC was the second active, rising 15 centavos to P3.70.
Market punters are eyeing profitable operations for most of the listed issues indicating the positive sentiments prevailing in the market.
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