PSE SURGES FURTHER

The Philippine Stock Exchange (PSE) surged to a new high since the COVID-19 pandemic, with the gainers more than twice the losers, even with net foreign selling to close at 7,169.79 points, up 172.17 points, or 2.46 percent.

Net foreign selling amounted to P1 billion on foreign selling of P5.1 billion and foreign buying of P4.10 billion with 159 gainers, 66 losers and 45 shares unchanged. Transactions reached P10.939 billion.

Market bellwether SM Investments went up by P45 to P1,050, while its sister firm, SM Prime rose by P1.50 to P39.50. BDO Unibank topped trading with P1.04 billion as it posted a gain of P5.76 to hit P104.70.

Bank of PI was the second most active stock with trades of P551.51 million as it lost 60 centavos to P86.10, hobbled by net foreign selling of P99 million. Metrobank gained P1.85 to P47.50 while Converge rose by 78 centavos to P16.62, just 18 centavos shy of its IPO price of P16.80.

Telco stocks PLDT and Globe Telecom rose, respectively closing at P137, up by P7 and P2,008, up P2. Semirara Mining was up by 48 centavos to P11.92 while Ayala Land gained 75 centavos to P40.

GT Capital rose by P43 to close at P603, while Universal Robina gained P3 to P151. Ayala Corp went up by P5 to reach P855.