The Philippine index in its first day of its second month for 2012, ended the day in favor of the bulls.The benchmark index - PSEi closed at 4,715.64; 33.20 points higher from yesterday or 0.71%. The gain was led today by the Financials Index with heavy volume from MBT, SECB, UPB, and BDO all having a trade value more than Php100M with MBT leading at Php363M. On the other hand, EDC was again still the most actively traded stock for the day amounting to Php559M; probably still due to its recent delay with one of its projects - Bacman Rehabilitation.
Our index has once again reached the 4,700 level after it fell last week to 4,500 levels. The difference now is that foreign trade seems to have equalized as of the moment as the net foreign buying posted today was just a mere Php200M; close to what has been posted in the past trading days. This may be due to the continuous uncertainty internationally due from the Eurozone crisis and the U.S.'s economy slowing down. Nevertheless, I think our country will be doing well this year, though this is just my assumption but based on what's happening, politcs, forex exchange stability, low interest rates and our inflation I think we will be having a good year. Of course, this is in the assumption that nothing further negative would happen.
Its the middle of the week now, though we are up in green, it's still too early to conclude that we will end the week under the same note. My suggestion right now, be on the look out on excellent performing companies right now that may have been neglected or out-shined by the others. Always take into account market timing and not timing the market! Happy trading!