PSE Index Ends Higher On First Trading Day Of Year

The Philippine Stock Exchange (PSE) index closed higher on the first trading day of the year, rebounding from earlier losses.

The Philippine Stock Exchange (PSE) Index, January 2, 2025

The benchmark index rose 21.60 points, or 0.33%, to settle at 6,550.39, buoyed by last-minute buying in the final 15 minutes of trading.

Holding firms and industrials trimmed their earlier deficits, recovering from significant losses during the market recess. The broader market posted a 41.39-point drop during the recess, equivalent to a 0.63% decline to 6,487.40 points, but holding firms narrowed their losses from 1.27% to just 0.33%.

Meanwhile, the property sector reduced its 1.16% decline to end nearly flat, down just 0.03%.

Market heavyweight SM Investments closed unchanged at ₱899 after hitting a session low of ₱882.50. Universal Robina dipped by ₱0.30 to ₱78.70, recovering from an intraday low of ₱77.25.

Ayala Land advanced by ₱0.20 to close at ₱26.40, up from a low of ₱25.70. Financials climbed from a 0.27% gain at recess to end the day up 0.84%, led by BDO Unibank, Metrobank, and EastWest Bank.

Industrials reduced their losses to just 0.18% from an earlier 1.02% drop. The services sector surged by 1.69%, while mining and oil declined 1.74%.

Foreign investors provided support, with net foreign buying reaching ₱217 million. Total foreign transactions amounted to ₱1.768 billion in purchases versus ₱1.550 billion in sales.

The session saw 94 gainers, 97 losers, and 47 unchanged stocks, improving from the recess tally of 85 gainers, 94 losers, and 41 unchanged stocks. Total value turnover stood at ₱3.24 billion.

Leading the gainers were Aboitiz Power, First Gen, SPNEC, Megawide, Ayala Corporation, Abacore, Cosco Capital, Puregold, Citicore REIT, Cebu Air, MREIT, Wilcon Depot, GMA-7, PLDT, Apex Mining, and OceanaGold.

Among the decliners were Security Bank, Union Bank, ACEN Corp, Aboitiz Equity Ventures, Semirara Mining, GT Capital, Megaworld, Robinsons Land, DigiPlus, Atlas Mining, and DoubleDragon.

Notable unchanged stocks included Bank of the Philippine Islands, Manila Water, Ginebra San Miguel, AgriNurture, Monde Nissin, Belle Corporation, PAL Holdings, and Philex Mining.