PSE Index Roars To New Level

The Philippine Stock Exchange (PSE) index surged to a new level, reaching 6,602.52 points, marking an increase of 103.64 points or 1.59 percent.

The Philippine Stock Exchange (PSE) Index, January 4, 2024

The mining and oil sub-index was the only segment posting a loss, as investors returned to the market with optimism fueled by government projections indicating a further decrease in the inflation rate.

All of the Top 10 most active stocks experienced gains, with Bank of the Philippine Islands (BPI) emerging as the most active, registering P445 million in trades and rising by 50 centavos to P104.

Following closely was market bellwether SM Investments, which increased by P1 to P880.

The property sector recorded the most substantial gain, rising by 2.77 percent, with property giants SM Prime and Ayala Land gaining 4.50 percent to P33.70 and 1.61 percent or 50 centavos to P34.80, respectively.

Financials rose by 1.78 percent, holding firms by 1.14 percent, services by 1.59 percent, and industrial by 0.36 percent. The total value turnover amounted to P5.18 billion, featuring 110 gainers, 85 losers, and 46 shares remaining unchanged.

Foreign buying reached P2.83 billion, while foreign selling amounted to P2.06 billion, resulting in net foreign buying of P768 million.

Among the gainers were ICTSI, BDO Unibank, Jollibee Foods, Ayala Corp., GT Capital, Universal Robina, Metrobank, Security Bank, First Gen, Megawide, Meralco, JG Summit, PLDT, Bloomberry, Alliance Global, Aboitiz Equity, Emperador, Philex, and Megaworld.

Century Food remained unchanged.

On the other hand, the losers included Robinson's Retail, Aboitiz Power, AC Energy (ACEN), Atlas Mining, Nickel Asia, Synergy Grid, Cebu Air, Puregold, Globe Telecom, Dito CME, and San Miguel.

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