PSEi retests 7,100 mark

The local stock barometer retested the 7,100 level Tuesday, firming up for the second session in a row.

The Philippine Stock Exchange index (PSEi) added 23.07 points or 0.33 percent to close at 7,106.56 while regional markets were mixed.

Most counters ended higher except for the mining/oil sector. Value turnover amounted to P9.69 billion. There were 106 advancers that edged out 74 decliners while 42 stocks were unchanged.

As many blue chips have reached lofty valuations, many third-liner stocks were heavily traded for the day.

Foreign investors were in a net selling position amounting to P560 million.

Within the PSEi, gains were led by Aboitiz Equity Ventures (+1.64 percent) and Ayala Corp. (+1.21 percent) while International Container Terminal Services Inc., SM Investments Corp., BDO Unibank, Universal Robina Corp., Robinsons Land Corp., SM Prime, Petron, Metrobank and DM Consunji Inc. also contributed modest gains.

Outside of PSEi stocks, notable gainers were Sinophil (+12.05 percent) and ISM (+30 percent).

On the other hand, the PSEi’s gains were tempered by the decline of Alliance Global Group Inc. and Semirara, which both fell by over 1 percent while Globe Telecom also slipped on profit-taking. Doris C. Dumlao