PSE Index Gains A Bit

The Philippine Stock Exchange (PSE) index Thursday rose slightly to a new milestone level, with five sub-indices posting gains, save for mining and oil, as foreign investors became net buyers for the first time in a month.

The Philippine Stock Exchange (PSE) Index, June 6, 2024

The PSE index closed at 6,509.86 points, up by 68.54 points or 1.06 percent. Services spearheaded the gainers with port operator ICTSI leading the sub-index, emerging as the most active with P1.04 billion in trades.

ICTSI went up by 5.61 percent to P353.80, up by P18.80. Also contributing to the significant rise were Globe Telecom and PLDT.

Financials went up by 0.32 percent, holding firms by 0.69 percent, industrials by 0.93 percent, property by 0.75 percent, and services by 2.76 percent. The mining and oil index was down by 0.34 percent.

Value turnover remained low at just P4.6 million, although there was net foreign buying of P37.1 million, with foreign buying at P2.27 billion and foreign selling at P2.233 billion. There were 102 gainers, 81 losers, and 60 shares unchanged.

Market bellwether SM Investments was up by just a peso to P851, while its topmost price was P852, indicating sluggish investor sentiments.

Among the gainers were Acen Corp., Alliance Global, DMCI Holdings, JG Summit, LT Group, Cebu Air, SM Prime, Ayala Land, Megaworld, MREIT, GMA-7, RL Commercial REIT, and Union Bank.

Also up were Alternergy, Aboitiz Power, SMC Food and Beverage, Meralco, China Bank, Metrobank, Security Bank, EastWest Bank, Monde Nissin, Shakey's Pizza, Belle Corp, Puregold, Benguet A, Apex Mining, Atlas Mining, OceanaGold, and Philex Mining.

The losers included Converge, Dito CME, Wilcon Depot, Nickel Asia, PSE, Semirara Mining, Century Pacific Food, Century Properties, AREIT, PAL, ABS-CBN, Cebu Landmasters, and DigiPlus.

Meanwhile, those unchanged were BDO Unibank, Bank of PI, Emperador, Abacore, Ginebra, First Gen, Oriental Petroleum, and Philodrill.