PSE Index Gains Ground

The Philippine Stock Exchange (PSE) index today made significant gains, with the mining and oil sub-index being the only sector to lose ground.

Photo Insert: The Philippine Stock Exchange (PSE) Index, September 25, 2023

Trading volume increased by a third, closing the day close to a higher milestone level at 6,172.84 points, up by 30.05 points or 0.49 percent.

Market bellwether, SM Investments, played a crucial role in bolstering the holdings firms, as it rose by 2.92 percent to P827.50, gaining P23.50 to offset the losses in Aboitiz Equity, which decreased by 20 centavos to P46.10, Ayala Corp, down by P10 to P602, and JG Summit, down by 40 centavos to P35.95.

Holdings increased by 0.81 percent, while financials rose by 0.35 percent, industrials by 0.21 percent, services by 0.23 percent, and property by 0.51 percent.

However, the mining and oil sector declined by 0.03 percent due to a loss from Semirara Mining, which was down by 5 centavos to P35.

Total trades increased by a third to P8.48 billion, with 85 gainers, 89 losers, and 47 shares remaining unchanged. Aboitiz Power, with the assistance of a buy-back strategy, rose by 4.39 percent to P32.10, an increase of P1.35 on trades worth P2.47 billion.

The second most active stock, Bloomberry, had trades worth P2.06 billion as it gained 18 centavos to reach P10.78.

Other gainers included BDO Unibank, up by P2 to P133; Ayala Land, up by 60 centavos to P28.45; PLDT, up by P11 to P1,165; Globe Telecom, up by P22 to P1,800; ICTSI, up by 20 centavos to P204; Nickel Asia, up by 1 centavo to P5.27; and Atlas Mining, up by a centavo to P3.02.

Among the losers were Century Food, which declined by 5 centavos to P29.70; Bank of the Philippine Islands, down by a peso to P107.50; SM Prime, down by 20 centavos to P30; and Global Ferronickel, down by a centavo to P2.65.

Philex Mining and Converge both remained unchanged at P2.77 and P9, respectively. Net foreign selling amounted to P316 million, with foreign buying at P3.66 billion and foreign selling at P3.98 billion.

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