The PSE market open in a positive note but decline by -0.23% at the close as profit taking occurred. The newly included Blue chip stock WLCON and Bloomberry (BLOOM) contributed on the drop of the index. The market expectation is to remain to be bullish as the Covid vaccines continues its healthy supply amid dropping in Covid cases. There is also an optimism on the possible lowering of Alert level 4 for Metro Manila on October 15, 2021.

The index closed at 7,107.82 level with a net foreign buying of 2.7Million.

For the blue chip index, Jollibee (4.51%) led the movement followed by GTCAP (3.26%). On the negative side, WLCON continued its decline and lost for the day (-5.76%)

Gainers	Losers
1JFC4.51%	1WLCON-5.76%
2GTCAP3.26%	2BLOOM-5.10%
3GLO2.27%	3ICT-3.46%
4MPI2.14%	4CNVRG-2.92%
5BPI1.13%	5SECB-2.69%
6LTG1.04%	6TEL-2.41%
7MBT1.02%	7AEV-1.68%
8MEG0.99%	8URC-1.19%
9SMC0.78%	9AP-0.97%
10ACEN0.62%	10SM-0.60%
11SMPH0.57%	11AGI-0.58%
12JGS0.32%	12ALI-0.14%
13RRHI0.17%	13MER-0.14%
14PGOLD0.12%	14RLC-0.12%

For the index sector Services lost with -1.86% while mining sector led by Semirara mining was up by +3.19%.

DMC and Semirara mining was the top gainers for the day as both companies declared dividends. SCC gained by as much as 10.02% and DMC by 9.14%.

The PSE market rebounded strongly today from its last Friday’s drop. It move byas much as 3.7% during intraday trading and close at 3.14%%. The average daily cases for COVID infection is still on a decline rate might have prompted investors to continue buying the PSE shares. There are also news in circulation stating that the reproduction rate of the virus have decline by more than 20% from the last 2 weeks occurrence. In addition, stocks related to Banks have been exhibiting breakouts from the last 2 days trading results.

The index must have price in also the latest announcements from Speaker Harry Roque that Metro Manila maybe ready to lower down its alert level. According to Philstar “On Metro Manila’s alert level, Roque reiterates that data indicate NCR is ready for a lower level, and there is a high chance of it happening.”

The PSE index closed at 7124.01with a net foreign selling -820.7Million. Foreigners became buyers from last Friday’s of trading.

For the Blue chip index, majority of the Blue chip stocks managed to closed in Green for today. The reversal in direction of the index was led by the Bank Sector, Security Bank (8%) top gainer followed by the reversal in direction of Converge ICT closing at 7.14% gains.

1SECB 8.00%

2CNVRG 7.14%

3ALI 6.35%

4SMPH 5.71%

5MBT 5.59%

6BDO 5.12%

7AP 4.91%

8LTG 4.80%

9SM 4.04%

10MEG 3.78%

11BPI 3.33%

12URC 3.05%

13AC 2.37%

14AEV 2.25%

15RLC 2.00%

16BLOOM 1.95%

For the index sector, all indexes are up with finance sector closing at new high of 4.50% and properties at 5.48%.