PSE Index Bounces Back

The Philippine Stock Exchange (PSE) index recovered Thursday, gaining 14.85 points, or 0.23 percent, to close at 6,511.57 points as it see-sawed between two levels during another tepid trading session due to a lack of catalysts to propel the market.

The Philippine Stock Exchange (PSE) Index, January 9, 2025

Holding firms saved the day for the index as market bellwether SM Investments closed P4.50 higher at P885, while other conglomerates such as Alliance Global, DMC Holdings, San Miguel, and Ayala Corporation posted gains.

The holdings sector ended the day up by 0.56 percent, while industrials gained 0.30 percent, services rose by 0.36 percent, and the property sector advanced by 0.42 percent.

Financials, however, fell by 0.44 percent as BDO Unibank lost P1.10 to close at P145.90. Mining and oil also declined, dropping 0.76 percent. Net foreign selling hit the market again, with P98 million in net outflows recorded, based on foreign buying of P2.707 billion and foreign selling of P2.805 billion.

Among the gainers were Bank of the Philippine Islands (BPI), ICTSI, Dito CME, SM Prime, DigiPlus, Steniel, Security Bank, Union Bank, PSE, ACEN Corporation, Aboitiz Power, First Gen, Meralco, Synergy Grid, Petron, and AgriNurture.

Also in the green at the end of the trading day were Emperador, SMC Food and Beverage, Fruitas, Ginebra, Universal Robina, Vitarich, CEMEX Holdings, Megawide, Ayala Land, AREIT, Citicore REIT, DoubleDragon, Filinvest REIT, GMA-7, Boulevard Holdings, PLDT, Converge, Apex Mining, Puregold, Cebu Air, and MRC Allied.

Among the losers were Metrobank, China Bank, PNB, Alternergy, Basic Energy, Shell Pilipinas, Semirara Mining, D&L Industries, Figaro Coffee, Jollibee Foods, Aboitiz Equity, Cosco Capital, Megaworld, Robinsons Land, PAL, MacroAsia, Wilcon Depot, Nickel Asia, OceanaGold, and Philex Mining.

Meanwhile, unchanged stocks included Citicore REIT, Manila Water, SPNEC, LT Group, Century Pacific Food, RL Commercial REIT, and Haus Talk.