MANILA, Philippines – The Philippine Stock Exchange Index (PSEi) rallied today and was able to get above the 7100 level. The index closed at 7193.68, up by 1.80 percent. The broader all-share index is up by 1.61 percent.
All of the sub-indices are up today. The best performing sub-index is the Property Sub-index up by 3.05 percent, followed by the Holdings Sector higher by 1.65 percent.
Within the Property space, SMPH led the advance to close at 35.95 up by 4.96 percent. ALI rallied slightly, as it closed higher by 2.43 percent.
Furthermore, DD rallied after it set its secondary offering at PHP 30.00 per share. DD closed at 25.50, higher by 4.51 percent. MEG closed higher by 0.71 percent.
Within the Holdings sector, SM led the rally to close at 875, up by 2.76 percent. AC closed at 920 up by 1.66 percent. JGS also saw a little bit of relief as it closed higher by 1.63 percent to close at exactly 50.00.
The most active stocks today include ALI with PHP 636.23 million in traded value, SMPH with PHP 576.97 million, and MBT with PHP 539 million.
The significant gainers in the Philippine Stock Market today include ISM by 29.09 percent, SBS by 20.91 percent, ATN by 7.483 percent and IS by 7.08 percent.
The notable losers include DMW by 14.50 percent, NI by 13.53 percent, PAX by 9.63 percent and SLI by 7.08 percent.
Moreover, there were 120 advancers, 82 decliners while 543names remain unchanged.
The market turnover totaled PHP 7.13 billion. Foreigners bought PHP 4.23 billion worth of Philippine equities and sold PHP 3.71 billion resulting in a net foreign buying of PHP 526.11 million.
DM Wenceslao & Associates, Incorporated has successfully launched and completed its IPO today. A total of PHP 8.1 billion was raised from the sale of 679.20 million shares, 20% of the company’s total outstanding shares for a price of 12.00.
Net proceeds, however, only totaled PHP 7.6 billion after deducting related fees and expenses to the offering. Apparently, around PHP 3.7 billion will be used to fund the construction and development of the Company’s nine real estate projects.
A total of PHP 2.9 billion will be allocated to acquisition of new land assets through potential share acquisitions while the remaining PHP 1.00 billion will be used in the development of the infrastructure of Aseana City and other general corporate purposes.
On a 30-day trading period, PSEi is on a Net Foreign Selling worth PHP15,569,936,937.93.
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