PSE UP IN ROLLER-COASTER RIDE
The Philippine Stock Exchange (PSE) opened the week today on a positive note in a roller-coaster ride, with share prices down in the first hour, then it hit a stride in mid-session before profit-taking set in but with the market exhibiting a fractional gain of 0.76 % to 6,514.00 points.
Trading was heavy in a portent of things to come as investors flocked to the market egged on by the surge in investment activity. Value turnover stood at P9.63 billion, with P2.2 billion of that happening in the last 25 minutes of the shortened Covid-19 sessions at 1 pm.
Except for the financials, all counters were up in brisk trading that saw 157 gainers against 58 losers and 35 issues unchanged. The financial sector was down by 1.52% or 20.73 points to end the period at 1,340.46 points.
BDO Unibank and Bank of PI accounted for much of that loss with the former losing P7 to close at P107 while BPI ended the day a peso lower at P77. They were heavily traded and were in the top ten most active stocks.
SM Prime was the day’s most actively traded stock, eclipsing GT Cap in the last few minutes. GT Cap was cruising along to be snag that title until late in the session with SM Prime zooming up with total trade of P774.93 million closing 50 centavos higher at P33.40 while GT Cap was the second heavily traded at P718 million, closing at P512.50, up by P32.50.
Metrobank and Security Bank ended the session in positive territory with MBT up by P1.10 to P42.60 and SECB gaining P9 to close at P111.50
The market has been perking up of late with the second liners also getting attention. The biggest gainer was Now Corp, a tech firm, while the other gainers include Makati Finance and NickelAsia.