PSE UP AGAIN

The Philippine Stock Exchange (PSE) went up today bucking the net foreign selling as the bullish sentiment resonated with the hope provided by the Coronavirus vaccine to close higher by 41 points or 0.59 percent to 6,959.14 points.

All the subsectors were up with the financials posting the biggest gain even though bannered by BDO Unibank's big gain of P2.92 to close at P95 with value turnover of P1.552 billion to emerge as most active stock.

Bank of PI, though lost 48 centavos to close at P82.60, while Metrobank and Security Bank were up closing respectively at P44, gaining 25 centavos and P106.30 a P2.40 gain.

Market bellwether SM Investments was down by P13 to 1,002, hobbled by net foreign selling of P203 out of the total foreign selling of P4.584 billion.

Transactions amounted to P10.251 billion with gainers of 126 against 98 decliners. There were 41 shares. Converge rose by 42 centavos to P15.66 while PLDT and Globe Telecom were both up respectively by P8 to P1,388 and P2,028.

Jollibee went up by a hefty P6.30 to P196.50, while PH Resorts was down by 27 centavos to P2.85. Ayala Land dropped by 64 centavos to P38.85 while market darling MerryMart was down 13 centavos to P4.70.

Aussie investor, Mike Olalia said that the market is now on a recovery phase as evidenced by the rising share price of Converge, which had the biggest IPO offering priced at P16.80. Many investors are hopeful that it would finally hit its listing price of P1.14 to go, he said, whooping it up.