The market closed flat again today at 8050.82, lower by 3.10 points or 0.04 percent. The broader All Share index was higher by 0.01 percent.
Sub-indices were mixed today. The Financial, Service, Industrial and Holding firms closed higher. On the other hand, the Property, Mining and Oil sectors closed lower. The best performing sector is the Holdings sector rising by 0.48 percent while the worst performing sector is the Property sector which fell by 1.26 percent.
Within the Holdings sector, JGS led the sub-index higher as it closed at 1385, which was higher by 4.29 percent versus yesterday’s close. AEV closed at 108.60, higher by 1.02 percent. DMC closed at 46, higher by 2.45 percent. LTG closed at 86.50, higher by 1.76 percent.
Within the Property sector, ALI led the sub-index lower as it closed at 970, which was lower by 1.92 percent versus yesterday’s close. SMPH closed at 63.70, lower by 1.47 percent. BEL closed at 165.40, lower by 1.84 percent. FLI closed at 4.90, lower by 1.01 percent.
Which Stocks Traded the Largest Volume?
The most active stocks today include ALI with PHP 1.09 billion in traded value. PHA also made it to the top gainers with a traded value of PHP 925.45 million. SMPH also had PHP 459.47 million in traded value.
Gainers and Losers for the Day
Significant gainers include PHA, higher by 16.18 percent, HLCM by 9.59 percent, LC by 8.40 percent, PAL by 7.03 percent, CHP by 6.72 percent, STI by 5.26 percent and PBB by 4.85 percent.
Significant losers include ABG by 11.1.1 percent, ABA by 7.58 percent, MARC by 7.56 percent, ALCO by 7.22 percent, ORE by 5.00 percent, IDC by 4.90 percent, VUL by 4.52 percent and MRSGI by 4.48 percent.
Market Breadth
There were 86 advances, 124 declines, while 33 names remain unchanged. Value turnover totaled PHP 7.57 billion. Foreign exchange rate stood at USD 1 : PHP 52.57.
Metropacific Tollways Allocates 45 Billion for CAPEX
In a disclosure to the stock exchange via Edge, Metro Pacific Investments Corporation (MPIC) confirms that it has indeed allocated approximately PHP 45 billion this 2019 to implement several road projects through Metro Pacific Tollways Corp. (MPTC). This is a 400 percent increase from its PHP 9 billion allocation in 2018.
MPTC plans to speed up the development and construction of its Cavite-Laguna Expressway (CALAX), North Luzon Expressway (NLEX) Harbor Link Segment 10 – R10 Road, Cebu-Cordova Link Expressway (CClex), C5 South Link Expressway, and the corner road in NLex-South Luzon Expressway connector road.
Market Undecided
The market recorded another reversal candle that may cause the index to retrace. Nonetheless, the bullish formation is still intact. The 15 EMA and 20 SMA are still the estimated support. The moving averages are bullishly aligned. Both MACD and RSI are moving sideways. Support is estimated at 7862 while resistance is at 8341.
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