PSE Index Still Going Strong

The Philippine Stock Exchange (PSE) index extended its gains today, closing 20.12 points higher at 6,850.16 points, marking a 0.29 percent increase.

The Philippine Stock Exchange (PSE) Index, February 8, 2024

Foreign investors remained active in the market, with foreign buying reaching P3.740 billion and foreign selling at P2.768 billion, resulting in a net buying of P953 million. The positive sentiment was buoyed by a decrease in the unemployment rate.

Value turnover remained robust at P6.89 billion, with 106 gainers, 91 losers, and 46 shares unchanged. However, profit-taking activities led to losses in the industrial sector (down by 0.001 percent), mining and oil (down by 1.11 percent), and holding firms (down by 0.35 percent).

BDO Unibank and Bank of the Philippine Islands (BPI) emerged as the most active stocks, with trades amounting to P990 million and P571 million, respectively. BDO saw an increase of P3.60 to reach P153.60, while BPI rose by 80 centavos to P113.40.

Notable gainers included market bellwether SM Investments, PNB, Security Bank, Metrobank, AC Energy Corporation (ACEN), Aboitiz Power, Basic Energy, Semirara Mining, San Miguel Corporation, Globe Telecom, Synergy Grid, Monde Nissin, ICTSI, Digiplus, and Megaworld.

On the other hand, losing shares included Meralco, Manila Water, Emperador, GT Capital, Aboitiz Equity Ventures, Bloomberry Resorts, Abacore Holdings, Jollibee Foods, Ayala Corporation, Century Pacific Food, JG Summit Holdings, SM Prime Holdings, Apex Mining, Atlas Consolidated Mining, Philex Mining, and Robinsons Retail Holdings.

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