PSE UP IN SLIGHT TRADE
The Philippine Stock Exchange (PSE) went up in light trade today with foreign selling again rising with the index ending 13.03 points or 0.22 percent to 5,938.33 points.
Net foreign selling rose to P902 million with foreign buying at P1.702 billion and foreign selling at P2.604 billion. Metrobank had a net foreign buying of P138 million followed by SM Prime with P63 million and Jollibee Foods with P15 million.
The stocks with net foreign sales include Ayala Land with P162 million Metro Pacific P131 million and PLDT with P122 million.
The sell down from foreign investors have been a dampener for the stock market resulting in just total transactions of a low P3.41 billion.
Market analysts see the PSE index in a sideways motion with an upside potential at above. 6,100 points but the lack of investor interest has resulted in short term gains for the blue chips.
Gainers outnumbered losers 108 to 80 with 62 shares unchanged as market punters bought up the second liners in anticipation of a surge in share prices in the future.
Market bellwether SM Investments was up P9.50 to P873.50 while market darling MerryMart rose 14 centavos to P3.33. Top traded stock was telco issue, Now, which rose 12 centavos to P5.33 with transactions of P378.08 million.