PSE SURGES SOME MORE
For the fourth straight day, the Philippine Stock Exchange surged some more today, this time with a bigger value turnover and a higher point increase as the euphoria over the baby steps toward normalcy with the GCQ set in.
PSE’s index rose by a huge 271.84 points or 4.35% to 6,517.49 points on a value turnover of P11.52 billion with the most active stocks trading higher and with big share price increases.
GT Cap traded P950. 33 with its share price hitting P444 up by P59, or 15.32 % towing in its wake its banking subsdiary, Metrobank, which, for the first time, hit above P40,closing at P43.60 , up P3.60 or 6.17 % with a value turnover of P617 million.
The two Ty-owned companies were among the 132 gainers against 65 losers with 42 shares unchanged.
Ayala Corp, SM Prime Holdings and BPI were the other big winners trading P781 million, P694 million and P691 million respectively.
The surge in the market augurs well for the initial public offering of Merry Mart with investors’ risk appetite changing after the May 29 window dressing that saw Puregold with a value turnover of more than P3 billion as the total turnover hit P20 billion.
Merry Mart which had an allocation of P2.4 million per broker, is the second grocery chain to be listed on the stock exchange with Puregold.