PSE Index Sustains Gains

The Philippine Stock Exchange (PSE) index continued its upward trajectory, closing at 6,603.81 points, up 53.42 points or 0.82%, marking a strong start to the year.

The Philippine Stock Exchange (PSE) Index, January 3, 2025

All sub-indices finished in the green, with gains led by holding firms (+0.98%), financials (+1.42%), and property (+1.02%).

Despite net foreign selling of ₱171 million, the market remained buoyant with robust local buying, contributing to a total turnover of ₱3.78 billion. The foreign transactions included ₱1.564 billion in buying and ₱1.736 billion in selling.

Market bellwether SM Investments rose by 1%, closing at ₱908 (+₱9), powering holding firms' gains. Financial stocks, including BDO Unibank (+₱0.50 to ₱145) and Metrobank, saw notable increases.

ICTSI, the most actively traded stock, gained ₱0.40 to ₱399.40 on ₱474 million worth of trades.

Analysts from First Metro Securities highlighted bullish signs for the market, citing rising consumer spending and broad-based gains among the Top 10 most active stocks. Of the day’s trades, 126 stocks advanced, 84 declined, and 46 remained unchanged.

Significant gainers included Ayala Land, SM Prime, Aboitiz Power, Philodrill, Globe Telecom, Converge, PLDT, Megaworld, and JG Summit. Mining stocks such as Apex Mining, Atlas Mining, and Philex Mining also advanced.

Decliners included Security Bank, Union Bank, Meralco, Jollibee Foods, Monde Nissin, Alliance Global, and Nickel Asia, among others. With bullish fundamentals and optimism in consumer spending, analysts predict continued positive momentum for the index in the near term.