PSE Index Rises Further On Foreign Buying

The Philippine Stock Exchange (PSE) continued its upward trend Friday, driven by foreign buying, with only one decliner among the Top 10 most active stocks.

The Philippine Stock Exchange (PSE) Index, September 6, 2024

The PSE index closed at 6,936.09 points, up by 28.13 points or 0.41%.

International Container Terminal Services Inc. (ICTSI) was the sole loser among the most active stocks, declining by P4 to P400. BDO Unibank led the market in terms of activity, trading P714 million worth of shares, and saw a P3 increase to P157.

Sector-wise, financials rose by 0.89%, industrial by 0.23%, holding firms gained 0.96%, and property advanced by 0.86%. Mining and oil dipped by 0.15%, while services fell by 0.82%. Net foreign buying reached P407 million, with P2.7 billion in purchases against P2.3 billion in sales.

Total foreign trades amounted to P5.1 billion, while overall value turnover hit P6.11 billion. There were 93 gainers, 90 losers, and 37 stocks unchanged.

Market bellwether SM Investments led the gainers, along with Ayala Land, GT Capital, Ayala REIT, Security Bank, Metrobank, Manila Water, SM Prime, China Bank, Union Bank, and Solar Philippines Nueva Ecija Corporation (SPNEC).

Also rising were Megawide, PSE, Aboitiz Power, First Gen, Cebu Air, MacroAsia, Wilcon Depot, DITO CME, Megaworld, OceanaGold, Haus Talk, Greenergy, and GMA-7.

On the losing side were Bank of the Philippine Islands (BPI), Citystate Savings, ACEN Corporation, Alternergy, Meralco, Semirara Mining, Bloomberry Resorts, Jollibee Foods, Globe Telecom, PLDT, Converge, and DoubleDragon Properties.

Stocks that remained unchanged included Belle Corporation, CEMEX Holdings, Figaro Coffee, Vitarich, Robinsons Land, and Aboitiz Equity Ventures.