PSEi soars to new all-time high

The benchmark PSEi soared to a new all-time high for the second consecutive trading day on Tuesday, as market players bought into blue-chip heavyweights.

There was selective buying in index shares, which lifted the market " Jeffrey Lucero, equity research analyst at RCBC Securities Inc., said.

"Top gainers SM, BDO, TEL, and AC are heavily-weighted in the PSEi and buying into these names lifted the index," Lucero noted.

The PSEi rose by 30.66 points or 0.37 percent to close at 8,398.04, surpassing the previous record of 8,367.38. The broader All Shares gained 12.79 points or 0.26 percent to 4,922.71.

SM Investments Corp., which accounts for 12.46 percent of the PSEi, was up P21.50 per share or 2.34 percent at P940.00.

BDO Unibank Inc., which accounts for 6.71 percent of the PSEi, rose by P2.10 or 1.56 percent to P136.50.

PLDT Inc., which accounts for 4.63 percent of the PSEi, advanced by P18.00 or 1.06-percent to P1,712.00.

Ayala Corp., which accounts for 6.52 percent of the PSEi, was up P11.00 or 1.06 percent to P1,050.00.

Foreign funds bought P3.045 billion of shares during the session and sold P2.549 billion for a net buying position of P496.231 million.

More than 1.629 billion shares, valued at P7.168 billion, changed hands. Decliners led advancers, 103 to 91, and 51 issues were unchanged. — VDS, GMA News