PSE Index Posts Hefty Gain

The Philippine Stock Exchange (PSE) index today posted a hefty gain after almost dropping below a milestone level, closing within a breath of the next level at 6,390.58 points, up by 77.47 points or 1.23 percent.

The Philippine Stock Exchange (PSE) Index, June 27, 2024

That close was the highest price point in a trading day that saw the resumption of foreign selling as value turnover remained a fourth down average at PHP 4.51 billion.

The index went down to as low as 6,301.84 after opening at 6,314.84 points. Net foreign selling amounted to PHP 96.2 million on foreign buying of PHP 2.097 billion and foreign selling of PHP 2.193 billion.

All sub-indices were up, which analysts said was a welcome development.

Financials rose by 2.50 percent, industrial went up by 1.07 percent, holding firms by 0.55 percent, services by 0.43 percent, mining and oil by 0.23 percent, and property by 0.93 percent. There were 91 gainers, 99 losers, and 43 shares unchanged.

ICTSI emerged as the most active but it was down while market bellwether SM Investments posted a gain.

Other gainers were BDO Unibank, Bank of PI, Metrobank, Security Bank, ACEN Corp, First Gen, Meralco, Synergy Grid, SPNEC, Axelum, Century Food, Emperador, Figaro Coffee, GMA7, Jollibee Food, Monde Nissin, Universal Robina, Megawide, Ayala Corp, Aboitiz Equity, GT Capital, DoubleDragon, Robinsons Land, SM Prime, Puregold, Converge, PLDT, Globe Telecom, Bloomberry, Atlas Mining, Pacific Online, and Dito CME.

Among the losers were EastWest, Union Bank, PNB, Alternergy, Aboitiz Power, Shell Pilipinas, Manila Water, Petron, AgriNurture, Abacore, Cosco Capital, JG Summit, Apex, DigiPlus, ABS-CBN, Philweb, Nickel Asia, and Philex.

At the same time, those unchanged were Belle Corp, Citicore RE, DNL Industries, Ginebra, and Basic Energy.