PSE Index Recovers; Finishes The Week Up

The Philippine Stock Exchange (PSE) index today rose to 6,269.50 points, up by 23.30 points or 0.37 percent in another day of net foreign selling and slow volume as the US market was on holiday with the Black Friday sale.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 24, 2023

Only a select few of the blue chips posted gains, with the property sub-index carrying the day for the market as it went up by 1.18 percent backed by the new recent high for SM Prime, up 1.72 percent to P32.50, a gain of 55 centavos.

Aside from property, the holding firms went up by 0.48 percent, led by market bellwether SM Investments, which went up by P4 to P834, and services rose by 0.64 percent on the back of a P3 gain for ICTSI, which emerged as the most active with P286 million in trades, closing at P218.40.

Jollibee Foods, the second most active with P261 million in trades, headlined the decline in industrials as it lost 40 centavos to P238.40.

Financials lost 0.08 percent as Bank of PI went down by 60 centavos to P103.40, and Security Bank closed 5 centavos lower at P70. BDO Unibank gained 20 centavos to P132.10, Metrobank was up by 5 centavos to P51.95, and PNB was down 6 centavos to P18.44.

Mining and oil declined by 0.06 percent even with the rise in Semirara Mining to P29, up by 10 centavos, and Industrials were down by 0.24 percent.

Value turnover remained thin, down more than half the average at P2.68 billion, with 78 gainers, 94 losers, and 51 shares unchanged. Foreign buying amounted to P1.148 billion, while foreign selling hit P1.271 billion for a net foreign selling of P124 million.

Among the gainers were Manila Water, up 60 centavos to P18.04, Ayala Land, up 30 centavos to P29.90, Ayala Corp, up P4.50 to P652, Aboitiz Equity, up 35 centavos to P48.65, JG Summit, up by 55 centavos to P18.45, PLDT, up a peso to P1,261, Dito CME, up 3 centavos to P2.40, Puregold, up 15 centavos to P27.95, Wilcon Depot, up 8 centavos to P19.70, and Philex Mining, up 3 centavos to P3.09.

The losers included ACEN Corp, down 5 centavos to P4.91, Bloomberry, down a centavo to P9.97, Nickel Asia, down 4 centavos to P5.07, Aboitiz Power, down 10 centavos to P36.40, Monde Nissn, down 13 centavos to P8.35, Megaworld, down a centavo to P2.02, Converge, down a centavo to P8.20, Alliance Global, down 12 centavos to P10.20, Globe Telecom, down P15 to P1,740, and GT Capital, down P3.50 to P560. Robinsons Land and Atlas Mining were unchanged at P14.60 and P3.10.

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