PSE UP ON ROLLER-COASTER RIDE
The Philippine Stock Exchange went on a roller coaster ride today ending with a marginal gain of 0.74 points or up 8.58 points to 6, 372.66 points.
Trading was touch and go and the wild swings were very much evident as share prices swung in a pendulum with the index touching a low of 6,322.92 points and a high of 6,398.79 points before closing with a small gain at the end of trading.
Losers were up on the gainers, 92 to 103 with 45 issues unchanged with the mining sector showing gains as investors see a possible surge in copper with the expected revival of economic activity .
There has been a selling pressure on companies under the Sy conglomerate with three of the most active stocks belonging to the Sy business empire.
SM Investments logged transactions valued at P1.108 billion with its share price closing unchanged at P950 while BDO Unibank posted a loss of 55 centavos in it's closing price of P99.95 on trades of P709 million.
SMPH closed at P33.40, up 35 centavos on trades totalling P605 million.
Market darling Merry Mart was down by 18 centavos to P3.11 on another healthy trade of P323 million while Altus was also down by P9.50 on trades of P263 million
Value turnover was a healthy P7.38 billion in trades that saw mining stocks showing gains on the supposition that with economic revival, the mining stocks would go up.
Benguet, Nickekasia and Global Ferronickel were the top gainers .