PSE Index Starts The New Year In Strong Surge

The Philippine Stock Exchange (PSE) Index saw a substantial rise as it climbed to a milestone level in a robust surge, marking a positive start to the new year with a 104-point increase or a 1.61 percent rise to 6,554.04.

The Philippine Stock Exchange (PSE) Index, January 2, 2024

This surge brought optimism to the market, as such a substantial increase had not been observed in at least six months, despite losses in two sub-indices. Mining and oil experienced a 1.14 percent decline, and property was down by 0.68 percent.

Market bellwether SM Investments led the charge with a P10 increase to P882, a 1.15 percent rise, with P483 million in trades, making it the most active stock.

SM Prime and BDO Unibank posted respective losses of 60 centavos to P32.30 and P2.70 to P127.80.

Gainers outnumbered losers, with 100 to 77, while 47 shares remained unchanged. Foreign investors were net buyers, contributing to a positive sentiment with a net amount of P443 million, based on foreign buys of P1.53 billion and foreign selling of P1.089 billion. Total value turnover amounted to P3.65 billion.

Among the gainers were Bloomberry, DigiPlus Interactive, Converge, Dito CME, Globe Telecom, Megaworld, Citicore REIT, San Miguel, DM Consunji, Monde Nissin, Security Bank, and Ayala Corp. Unchanged stocks included Cebu Air and Meralco.

The losers for the day were ACEN Corp, Aboitiz Equity, Alliance Global, SM Prime, Aboitiz Power EEI, and VREIT.

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