PSE RECOVERS

The Philippine Stock Exchange (PSE) index today recovered lost ground, but it was a muted one with a modest 51.77 point rise or 0.73 percent up to close at 7,154.43 points.

The financials, industrials and mining and oil sub sectors posted losses, while the holding firms, service and property sectors were up with value turnover of P7.63 billion with 121 gainers, 108 losers and 41 shares unchanged.

Metrobank was the most active stock with P585 million, losing 60 centavos to P50.40 as foreign investors sold P68 million of the issue. Bank of PI also lost 90 centavos to P83, while BDO Unibank, helped by net foreign buying of P38 million, posted a gain of P1.30 to P108.30.

Net foreign selling amounted to P153 million on foreign buying of P2.612 billion and foreign selling of P2.766 billion, with investors being selective in their stock purchases and pushing for second liners.

Market bellwether SM Investments gained P11 to P1,050 while SM Prime gained 50 centavos to P38.40. Robinson's Land lost 24 centavos to P19.70.

PLDT gained P5 to P1,330, while Globe Telecom lost P4 to P2,042. Ayala Land went up by P1.35 to P90.05, while Ayala Corp gained P20 to 840.

Market players see a possible gyration between a low of 6,700 points and P7,200 points, which will be dependent on a host of economic factors.