MANILA, Philippines – The Philippine Stock Exchange Index (PSEi) was a roller coaster ride today. The market started green but declined the entire session but was still able to go back up positive territory during the last minutes of trading.
The index closed at 7007.21, up by 20.33 points or 0.29 percent. The broader all-share index is lower by 0.05 percent.
The sectors were mixed today. Best performing sector is the Holdings Sector, which was higher by 0.75 percent compared to yesterday’s record. Within this space, JGS was quick to rally after a hard drop yesterday, now up by 3.84 percent to close at 48.70.
AC, GTCAP, LTG, and AEV were up by 1.14 percent, 3.45 percent, 4.07 percent, and 1.20 percent respectively.
The worst performing sector is the Mining and Oil sector which dropped by 1.96 percent. SCC was lower by exactly 1.00 percent, PX by 4.04 percent, PXP by 2.70 percent, and FNI by a massive 5.36 percent.
The most active stocks today include BDO with PHP 564 million in traded value, ALI with PHP 454 million and SM with 356 million.
The significant gainers include WIN by 22.17 percent, H2O by 17.11 percent, ORE by 10.53 percent and IRC by 8.80 percent.
The notable losers include FNI by 5.36 percent, ISM by 5.34 percent, PX by 4.04 percent and CYBR by 3.70 percent.
There were 78 advancers, 127 decliners while 41 names remain unchanged.
The market turnover totaled PHP 5.92 billion. Foreigners bought PHP 3.09 billion worth of Philippine equities and sold PHP 3.04 billion resulting in a net foreign buying of PHP 57.67 million.
Treasury Bill rates rose yesterday in anticipation of a further increase in prices by the BSP. From the auction yesterday, the Bureau of Treasury only sold PHP 3.59 billion worth of 91-day T-bills from its original target of PHP 5 Billion. This was after the auction committee placed the rates at 3.55 percent.
Earlier today, H2O was put on a trading suspension after it announced that its shareholders had approved a name change to PH Resorts Group Holdings Inc., tantamount to a backdoor listing. The company is now under new management under the Udenna Group of Companies.
Raymundo Martin M. Escalona, president of PH Resorts, announced that the company currently has four projects being developed. The ongoing projects are casinos in Mactan and Clark, and another two hotels in Davao and Bohol.
On a 30-day trading period, PSEi is on a Net Foreign Selling worth PHP14,634,332,681.66.
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