• The Financial District


The Philippine Stock Exchange (PSE) topped the 6,000 milestone level today with an extra push even as the foreign selling continued to rock the financials and other blue chips stocks and a debuting real estate investment trust IPO posting an unlikely decline.

PSE’s index rose by 102.78 points or 1.71 percent to 6,097.78 points even with foreign selling computed at P2.339 billion in heavy  trading performance that saw 110 gainers and 73 losers and 57 shares unchanged that started with the index immediately opening at 6,015 points.

Market players immediately pocketed their gains resulting in the PSE index going down five points lower until big guns came in and pushed up the prices of stocks including those that saw foreign sell-downs to close at its highest level.

Banking stocks Bank of PI, Metrobank and BDO Unibank again had net foreign sellers . BDO had P77 million net sellers while BPI and Metrobank had respective sell-downs of P28 million and P21 million. The other blue chip stocks that had net foreign sales were Ayala Land, P65 million; GT Capital, P62 million, Globe Telecom, P37 million, First Gen, 28 million and Ayala REIT (AREIT), P400 million.

AREIT, which had its IPO today, declined by P2.10 or 7.78 percent to close at P24.80, lower than its IPO price of P27. The AREIT letdown was evident in the net foreign selling amounting to P400 million.

Value turnover was P17.14 billion, of which P4.359 billion was a block sale for AREIT and another block sale of SM Investments of P220 million.

Local support was evident in today’s trading with BDO going up by P2 to P92; Metrobank by 95 centavos to P36.10; Bank of PI by P2.35 to P64.85; RCBC by 46 centavos to P16.80; and Security Bank by P3.10 to P95.90.

Merry Mart went up by 6 centavos to close at P2.93 but with a value turnover of just P60 million while the other gainers were SM Prime which rose by P1 to P31; Aboitiz Equity, up P1.35 to P49.80; Cemex Holdings, up 3 centavos to P1.15; SM Investments, up P27 to P897; and Apex Mining up 7 centavos to P1.54.

The other losing stocks included First Gen which closed 1.10 lower to P P23.50 ; Pilipinas Shell, down 72 centavos to P16.78; and Double Dragon, down 50 centavos to P 15.

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