PSE Index Pauses On Profit-Taking

The Philippine Stock Exchange (PSE) index today paused on profit-taking but only experienced a small decline of 6.46 points or 0.10 percent, closing at 6,673.50.

The Philippine Stock Exchange (PSE) Index, January 25, 2024

Financials and industrials still managed to post gains, rising by 0.07 percent and 0.30 percent respectively, which helped to mitigate the overall loss. However, holding firms went down by 0.29 percent, although market bellwether SM Investments closed P4 higher at P904.

Services were down by 0.30 percent, mining and oil by 0.97 percent, and property by 0.28 percent.

Bloomberry was today's market standout as it hit a new high of P11.40, up by 64 centavos or 5.95 percent after experiencing a slight downturn, and was the second most active with P292 million.

Other gainers were Monde Nissin, Universal Robina, Bank of the Philippines, PLDT, Atlas Mining, Figaro Coffee, Security Bank, Manila Water, Globe Telecom, and Converge.

BDO Unibank, the top traded with P412 million, led the losing stocks.

Other losers were GT Capital, ABS-CBN, Metro Bank, Petron, PNB, Union Bank, JG Summit, Ayala Corp, San Miguel, and Meralco.

Value turnover amounted to P4.87 billion with 67 gainers, 105 losers, and 105 shares unchanged. Foreign buying amounted to p2.192 billion while foreign selling hit P2.112 billion for a net foreign buying of P80 million.

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