The Philippines' largest market cap and leading telecom company, the PLDT, buoyed the key 30-company benchmark by .38% on light but improved volume. Market turnover in Pesos swelled by 54.78% to P 414.660 million from yesterday’s sluggish P 267.892 million.
There were only two gainers among index heavyweights; PLDT’s modest advance of 2.2% plus Metrobank’s significant 1.81% gain more than offset the declines of Ayala Corp, down 1.72%, and Globe Telecoms, slightly lower by .58%. The rest of the heavyweights, Ayala Land, San Miguel A and B shares, SM Prime and Bank of the Philippine Islands closed unchanged.
Market sentiment was generally upbeat as advancers beat decliners 31 to 19 and these help support the gains of the select heavyweight issues. Moreover, foreign capital flow yielded a net positive P 13.674 million with the bulk of these directed to choiced companies, i.e. PLDT, First Philippine Holdings, Ayala Corp, Ayala Land and Jollibee, respectively.
The movements of the local market seem to mirror those of our neighbors; Thailand and Malaysia like us had marginal gains while Indonesia posted a slight decline, as of this writing.
As for the domestic industry indices, only the oil and the property issues reported declines, while the Commercial Industrial, Financial, the Phi-All and Mining Index posted gains. The Small and Medium Enterprise Index was untraded.
The oil index dropped by a significant 4.26% solely based Oriental Petroleum’s hefty fall. Other oil issues were unchanged. The Property index fell by a slim .15% on Filinvest Land’s 3.77% drop.
No comments:
Post a Comment