PSE Index Posts Slight Gain Despite Sub-Index Declines

The Philippine Stock Exchange (PSE) index posted a modest gain Wednesday, closing at 6,348.34 points, up by 8.13 points or 0.13%, despite losses in five of its six sub-indices.

The Philippine Stock Exchange (PSE) Index, January 22, 2025

The lone sub-index in the green was Services, driven by gains in port operator ICTSI, PLDT, DigiPlus, and Belle Corp., which increased by 0.74%.

These gains were enough to offset minor losses in the Financials sub-index, down by 0.08%; Industrials, down by 0.04%; Mining and Oil, down by 0.54%; Property, down by 0.05%; and Holding Firms, which declined by 0.13%.

Notably, SM Investments, the market bellwether, rose by PHP8 to PHP845.

The index briefly surged to 6,392.05 points but retreated due to profit-taking, exacerbated by foreign investors' selling. Net foreign selling amounted to PHP404 million, with foreign buying at PHP1.916 billion versus foreign selling of PHP2.321 billion.

Total trades reached PHP4.67 billion, with 103 losers, 73 gainers, and 65 stocks unchanged.

Among the day's losers were top-traded stocks BDO Unibank, Universal Robina, and Jollibee Foods, along with Metrobank, China Bank, Security Bank, Union Bank, and others.

Gainers included Meralco, Bank of the Philippine Islands, PNB, East West, Alternergy, Century Foods, Monde Nissin, and Semirara Mining, among others. Stocks that remained unchanged included Ayala Land, SM Prime, Converge, and Atlas Mining.