PSE Index Bounces Back To See Slight Rise

The Philippine Stock Exchange (PSE) index today went up a bit as it recovered before the close of trading, with red signs flashing over all the sub-indices to show a 20.62-point rise or a 0.31 percent increase to 6,687.71 points.

The Philippine Stock Exchange (PSE) Index, July 17, 2024

At the end of trading, the index-heavy holding firms were up by 1.14 points while industrials and mining and oil posted gains of 0.43 percent and 4.27 percent, respectively. Financials followed suit, losing 0.31 percent, services were down by 0.22 percent, and property declined by 0.34 percent.

The market went up immediately by 10 points after opening straight from its Tuesday gains but gradually went down to a low of 6,629.51 before recovering its bearings to close a bit up.

Foreign investors were net buyers to the tune of P715 million as they came in full force as share prices tumbled. Foreign buying amounted to P2.243 billion, while foreign selling hit P1.527 billion.

Market bellwether SM Investments emerged as the most active stock with P566 million as it rose by P23 to P923. Value turnover amounted to just P4.2 billion with 97 gainers, 95 losers, and 42 shares unchanged.

Among the losers were Ayala Land, SM Prime, BDO Unibank, Security Bank, Ayala Corp, JG Summit, PLDT, Globe Telecom, China Bank, Bank of PI, Alternergy, Monde Nissin, Emperador, Manila Water, Meralco, D&L Industries, Global Ferronickel, Megawide, Greenergy, Bloomberry, Belle Corp, Steniel, PhilWeb, Synergy Grid, Shell Pilipinas, Converge, and Abacore.

The gainers were Universal Robina, ICTSI, PXP Energy, Union Bank, PNB, Aboitiz Power, ACEN Corp, DigiPlus, GT Capital, Jollibee Foods, Century Food, Aboitiz Equity, Cosco Capital, Apex Mining, Atlas Mining, OceanaGold, Cebu Air, and PAL.

Those unchanged were Semirara Mining, SPNEC, AgriNurture, Century Property, Nickel Asia, First Gen, and NexGen.