PSE Index Clambers Up To Another Milestone Level

The Philippine Stock Exchange (PSE) Index climbed to another milestone level today, closing at 6,761.35 points, up by 84.70 points or 1.27%.

The Philippine Stock Exchange (PSE) Index, November 18, 2024

Despite mixed performances among sub-indices, strong gains in heavyweight stocks propelled the market higher.

Holding firms led the charge, highlighted by a ₱30 rise in market bellwether SM Investments, which ended at ₱905, marking a hefty 3.59% increase. Gains in the property sector, up by 1.68%, and financials, up by 0.37%, also supported the index's ascent.

However, industrials slipped by 0.03%, services declined by 0.13%, and mining and oil fell by 1.68%.

The index hit an intraday low of 6,693.39 points but recovered on bargain hunting. Foreign investors remained net sellers, recording ₱1.26 billion in net outflows, with foreign buying at ₱2.415 billion and foreign selling at ₱3.682 billion.

Total value turnover reached ₱5.78 billion, with 97 gainers, 94 losers, and 62 unchanged issues.

Among the gainers were Bank of the Philippine Islands, Ayala Corporation, SM Prime, Universal Robina, Haus Talk, PSE, Converge, Cebu Air, Belle Corporation, First Gen, Manila Water, Petron, and Monde Nissin.

JG Summit, LT Group, San Miguel, Axelum, Apex Mining, OceanaGold, AREIT, Megaworld, Shang Properties, Vitarich, and Cirtek Holdings, also ended the day in the green.

Top-traded stock BDO Unibank, with ₱1 billion in trades, led the losers, which included Ayala Land, DITO CME, Emperador, Figaro Coffee, Keepers Holdings, DMC Holdings, Wilcon Depot, Phil. Seven, Atlas Mining, Bloomberry, Robinsons Land, Nickel Asia, Globe Telecom, PLDT, and Alliance Global.

Unchanged stocks included Jollibee Foods, AgriNurture, ICTSI, Alternergy, Philex Mining, Basic Energy, Philodrill, and Citicore REIT.