“Therefore, while we could see the index react positively to the MGCQ news, it would be hard to be over-excited and the major resistance areas at 7,000 to 7,100 would likely still hold in the near to medium term.”All counters ended higher, led by the holding firm counter, which rose by 2.4 percent.
Mining/oil added 1.98 percent, while the financial, industrial, services and property counters all added less than 1 percent. Value turnover for the day amounted to P9.56 billion. Local investors supported the market as foreign investors were net sellers to the tune of P579.54 million. The PSEi’s gains were led by Ayala Corp., SM Investments, BPI and JG Summit, which respectively rose by 3.1 percent, 2.8 percent, 2.26 percent and 1.96 percent.Notable gainers outside the PSEi included PHA, the day’s most actively traded company, which surged by 10.27 percent.On the other hand, Metrobank lost 1.76 percent while SM Prime and PLDT slipped by less than 1 percent.
Notable decliners outside the PSEi included Vulcan and Greenery, which slid by 16.19 percent and 4.11 percent, respectively.