PSE Index Buoyed By Bullish Sentiment, Sees Another Rise

The Philippine Stock Exchange (PSE) index rose Thursday, reaching another milestone level as foreign investors, for the first time in weeks, became net buyers.

The Philippine Stock Exchange (PSE) Index, November 21, 2024

This influx pushed all sub-indices to new highs, with market bellwether SM Investments entering the Top 10 gainers. The index climbed to 6,975.63 points, up by a notable 2.53% or 172.44 points.

Buoyed by bullish sentiment, SM Investments surged 7.09% to ₱959, an increase of ₱63.50.

This contributed to a significant 3.26% upswing in the holding firms sector, with GT Capital, Asiabest Group, and Aboitiz Equity advancing in tandem. Other sectors also performed well: financials increased by 2.95%, industrials rose by 1.61%, services gained 0.84%, mining and oil were up by 0.14%, and property climbed 1.99%.

Ayala Land emerged as the most actively traded stock, with ₱616 million in transactions, rising 3.59% to ₱30.30.

BDO Unibank followed with ₱571 million in trades, climbing ₱8.50 or 5.84% to ₱154. Meanwhile, ICTSI had a turnover of ₱399 million, closing ₱5.20 higher at ₱399.

Net foreign selling amounted to ₱82.2 million, with foreign buying at ₱2.81 billion and foreign selling at ₱2.73 billion. Total value turnover reached ₱5.38 billion, with 88 gainers, 110 losers, and 59 stocks unchanged.

Among the gainers were SM Prime, Metrobank, China Bank, PNB, Security Bank, Union Bank, PSE, Ginebra, Century Food, Meralco, Axelum, Aboitiz Power, Jollibee Foods, Citicore REIT, CEMEX Holdings, Cebu Air, MRC Allied, STI Holdings, PhilSeven, Oriental Petroleum, Apex Mining, Atlas Mining, Puregold, Globe Telecom, PLDT, SSI Group, ACEN Corp., and Greenergy.

On the losing side were Alternergy, Basic Energy, Ayala Corp., Bank of the Philippine Islands (BPI), Manila Water, Semirara Mining, DMCI Holdings, Alliance Global, Abacore, Shakey’s, Keepers Holdings, Universal Robina, San Miguel Food and Beverage, Citicore REIT, PAL, Boulevard Holdings, OceanaGold, Philex Mining, DoubleDragon, RL Commercial, Wilcon Depot, and GMA Network.

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Stocks that remained unchanged included First Gen, Shell Pilipinas, SPNEC, AgriNurture, D&L Industries, Century Properties, Megaworld, MREIT, Robinsons Land, DigiPlus, LT Group, Nickel Asia, Monde Nissin, Megawide, Emperador, and Figaro Coffee