PSE UP IN LIGHT TRADE

The Philippine Stock Exchange (PSE) went up a bit in another light trade as the foreign selling continued with the lack of fresh economic news to prop the market.

Net foreign selling was clocked at P527 million with the PSE index up by 65.57 points or 1.11 percent to 5,967.96 points with 90 gainers and 92 losers with 51 shares unchanged on value turnover of just P4.17 billion as the locals remain out of the market.

Market bellwether SM Investments benefitted from the foreign net buying of P39 million as it went up by P25 to P905 and was the most active stock with a total trade of just P251 million indicating the lack of breadth of the market.

Ayala Land, PLDT, and PNB also profited from the net foreign buying of P34 million, P74 million and P17 million respectively to post gains. ALI was up by 40 centavos, PLDT by P37 and PNB by P1.

BDO Unibank, which had foreign selling of P100 million, lost 90 centavos to close at P91.10 while BPI also lost 10 centavos to close at P64.90 on foreign selling of P67 million.

Foreign selling amounted to P2.127 billion and foreign buying hit P1.6 billion in another day of foreign sell down that has been rocking the market since two months back.

Ayala Corp had foreign sales of P94 million while PureGold, P64 million, Jollibee Foods, P40 million, Globe Telecom P46 million and SM Prime, P64 million

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