PSE Index Up Again

The Philippine Stock Exchange (PSE) index Thursday flirted with reaching a higher milestone level, climbing within seven points of the aforementioned.

The Philippine Stock Exchange (PSE) Index, January 23, 2025

However, selling pressure due to profit-taking took its toll. Despite this, the index managed to post a 30.52-point increase, or a 0.48% rise, closing at 6,378.86 points.

Market bellwether SM Investments added another ₱15 at the close, reaching ₱860. It had gone as high as ₱867 and as low as ₱845 during the session, pushing the holding firms sub-index to a 1% gain.

Other sub-indices that rose included financials, up by 1.14%; industrial, up by 0.17%; and mining and oil, up by 0.95%. Meanwhile, property and services declined by 0.17% and 0.80%, respectively.

Foreign investors remained net sellers, with ₱163 million in net foreign selling. Foreign buying totaled ₱1.918 billion, while foreign selling reached ₱2.081 billion. Foreign trades accounted for the bulk of transactions, while local trades amounted to just ₱90 million.

Total value turnover was ₱4.09 billion, with 107 losers, 95 gainers, and 42 unchanged stocks. The index is expected to maintain a bearish-neutral stance as inflationary pressures persist due to rising prices of rice, gasoline, and vegetables.

Among the notable losers were ICTSI, Synergy Grid, JG Summit, SM Prime, Bank of the Philippine Islands, PLDT, Union Bank, EastWest Bank, China Bank, First Gen, Meralco, Petron, SPNEC, Century Food, and the Keeper Holdings.

Roxas and Co., Victorias Milling, Cemex Holdings, San Miguel, Alliance Global, Megawide, Filinvest Land, Global Estate, Vista Land, Converge, ABS-CBN, GMA-7, PAL, Dito CME, Belle Corp, Bloomberry, DigiPlus, Puregold, Oceana Gold, Wilcon Depot, Oriental Petroleum, and Philodrill, also ended the day in the red.

Meanwhile, gainers included BDO Unibank, Metrobank, Globe Telecom, Ayala Land, Ayala Corp, Aboitiz Equity, and Semirara Mining.

Gaining, as well were Universal Robina, AREIT, AgriNurture, Prime Media, PBCom, PNB, Security Bank, PSE, ACEN Corp, Alternergy, Aboitiz Power, Basic Energy, Citicore REIT, Citicore Renewable Trust, and Manila Water.

Closing out the list of gainers were Axelum, D&L Industries, Emperador, Jollibee Foods, Monde Nissin, GT Capital, LT Group, Megaworld, MREIT, VREIT, Cebu Air, Nickel Asia, Atlas Mining, Philex Mining, and Haus Talk.

Unchanged stocks included Abacore, Figaro Coffee, Fruitas, Ginebra, Shakey's Pizza, Vitarich, Cebu Landmasters, DoubleDragon, Robinsons Land, and United Paragon.