PSE UP IN VOLATILE TRADE
The Philippine Stock Exchange today posted a gain in light trade characterized by volatility with issues up and down indicative of lack of solid news to propel it.
PSE finished the day up by 73.58 points or 1.20 percent higher at 6,191.84 points which is also its highest point but not after a jittery drop to a low of 6,092.01 points that worried market punters.
Gainers were ahead of losers 99 to 91 with 54 shares unchanged in light trade of P5.2 billion as there were no solid stories to move the index higher.
Trading was touch and go with blue chip stocks in a roller coaster ride like SM Prime , the most active stock ,which opened 30 centavos higher from it's closing price yesterday of P31.20 , declined to a low of P30.05 before going up to a high of P31.60, it's closing price.
Total trade of SM.Prime was just P422 million as many investors opted to be at the sidelines. SM Investments was the second most active and it's trading pattern was down on opening to P921.50 , lower by P8.50 from it's Thursday close before an unnerving drop to P916.50 and with bargain buyers pushed the price to its high of P939.50 before closing at P938.50.
Market darling opened high at P3.55 up P7, rose to P3.63 and went down to a low of P3.49 before closing up to P3.51. Transactions hit P179 million.
Of the top most active stocks, only Ayala Land and Meralco posted losses while the notable gainers include BDO Unibank up by P1.40, PLDT, by P60 ,Ayala Corp by P10 and Emperador by 4 centavos.
Next Monday, the market is expected to look up to how the Dow Jones performs and from there take it's cue.