PSE Index Closes Rough Week In Recovery Mode

The Philippine Stock Exchange (PSE) index rebounded Friday, climbing 30.44 points or 0.42% to close at 7,314.23 points.

The Philippine Stock Exchange (PSE) Index, October 25, 2024

This recovery was marked by muted trading volume and a slight increase in net foreign buying.

Four sub-indices posted gains while two declined. Market bellwether SM Investments rose by 0.52% to ₱963, supporting the holding firms' sector. Financials increased by 0.97%, services gained 0.76%, and mining and oil advanced by 0.11%.

On the downside, industrials slipped by 0.16%, and the property sector fell by 0.67%, with property giants Ayala Land and SM Prime posting losses.

Bank of the Philippine Islands (BPI) was the most active stock, with ₱750 million in trades as foreign investors became net buyers, contributing ₱340 million. BPI recovered from its earlier losses, closing ₱7 higher or 5.04% at ₱146.

Total value turnover reached ₱4.197 billion, with net foreign buying at ₱7.6 million, driven by foreign buying of ₱2.378 billion and foreign selling of ₱2.370 billion.

There were 110 gainers, 81 losers, and 55 unchanged shares. Among the top gainers were GT Capital, ICTSI, Puregold, Roxas and Co., Globe Telecom, PLDT, Security Bank, ACEN Corp., and Alternergy.

Following suit were Megawide, Synergy Grid, San Miguel, Cosco Capital, LT Group, Cebu Landmasters, Megaworld, Shang Properties, PNB, Union Bank, Manila Water, Citicore RE, Converge, Nickel Asia, Philodrill, MRC Allied, GMA7, DITO CME, and Aboitiz Power.

Basic Energy, Century Pacific Food, Belle Corp., Bloomberry, Figaro Coffee, DMCI Holdings, JG Summit, Alliance Global, and Vitarich were also in the green.

On the losing side were BDO Unibank, Semirara Mining, First Gen, Meralco, Emperador, Jollibee Foods, Abacore, Monde Nissin, CEMEX Holdings, DoubleDragon, Robinsons Land, PhilSeven, Atlas Mining, Philex Mining, Ferronickel, Philweb, D&L Industries, and SPNEC.

Shares that remained unchanged included Metrobank, Ginebra San Miguel, ABS-CBN, Boulevard Holdings, PXP Energy, and OceanaGold.