PSE Index In Hefty Recovery

The Philippine Stock Exchange (PSE) index posted a significant recovery today on bargain hunting, with just one sub-index declining, although trades were below normal, closing at 6,583.47 points, up by 79.93 points or 1.23 percent.

The Philippine Stock Exchange (PSE) Index, January 22, 2024

Only the industrial sub-index went down with a 1.22 percent loss, led by Universal Robina, which closed P1.40 lower at P113.50.

The Industrial sub-index was down by 0.13 percent, while Financials gained 1.35 percent, holding firms by 1.52 percent, services by 0.95 percent, mining and oil up by 1.65 percent, and property by 1.52 percent.

The index is now within grasp of a higher milestone level, as foreign buying hit P2.338 billion, while foreign selling stood at P2.241 billion, resulting in net foreign buying of P97.2 million.

Market bellwether SM Investments rose by 1.49 percent to P883, while GT Capital gained a hefty 4.9 percent or P30 to P642.

Gainers include BDO Unibank, the most active with P502 million in trades, Ayala Land, SM Prime, Ayala Corp, PNB, ICTSI, Emperador, Robinsons Land, Metrobank, JG Summit, Globe Telecom, PLDT, Converge, Lepanto Mining, Nickel Asia, Bloomberry, Aboitiz Equity, Monde Nissin, Meralco, and Filinvest.

Among the losers were Union Bank, ACEN Corp, Petron, Agrinurture, ABS-CBN, San Miguel, Megaworld, Cebu Air, Robinsons Retail, SM Food and Beverage, Jollibee Foods, Fruitas Holdings, Alliance Global, and Phil Seven.

Total trades amounted to P4.56 billion, with 94 gainers, 85 losers, and 48 shares unchanged.

WEEKLY FEATURE : Jose Mari Chan And The Christmas Anthem