PSE Index Up Another Level

The Philippine Stock Exchange (PSE) posted gains for the third consecutive trading day, reaching a new milestone of 6,803.19 points—an increase of 41.84 points or 0.62 percent—even amid continued foreign selling.

The Philippine Stock Exchange (PSE) Index, November 19, 2024

Among the sectors, only holding firms recorded losses, with market bellwether SM Investments shedding ₱9 to close at ₱896. Other conglomerates, including GT Capital, LT Group, JG Summit, and Republic Glass, also saw declines, resulting in a 0.84 percent drop for the holding firms index.

On the other hand, all other sectors were in the green: financials rose by 0.81 percent, industrials by 0.87 percent, services by 1.30 percent, mining and oil by 0.90 percent, and property by 1.22 percent.

Trading activity remained tentative, with the index fluctuating between a high of 6,835.23 points and a low of 6,758 points. Foreign investors continued to dominate the market as net sellers, while local investors contributed only a small portion of the total value turnover of ₱5.45 billion.

Net foreign selling amounted to ₱1.15 billion, with foreign buying at ₱2.142 billion and foreign selling at ₱3.297 billion.

Local trades accounted for just ₱140 million. Among the top gainers were Ayala Land, which led trading with ₱641 million in transactions, BDO Unibank with ₱539 million, and ICTSI with ₱433 million.

Other notable gainers included SM Prime, Asiabest, Alternergy, Roxas and Co., Security Bank, Union Bank, MRC Allied, Citicore REIT, Meralco, Shell Pilipinas, Semirara Mining, and D&L Industries.

Megaworld, MREIT, DoubleDragon, Greenergy, San Miguel, AREIT, Atlas Mining, Apex Mining, Globe Telecom, PLDT, Robinsons Land, Nickel Asia, PhilWeb, Jollibee Foods, Vitarich, Emperador, Converge, and Robinsons Retail were up, as well.

On the losing side were Bank of the Philippine Islands, Metrobank, Ayala Corp., Dito CME, SPNEC, Basic Energy, PNB, First Gen, Abacore, Cebu Air, PAL, Bloomberry, Wilcon Depot, OceanaGold, Philodrill, and PXP Energy.

Meanwhile, stocks that remained unchanged included ACEN Corp., Monde Nissin, Figaro Coffee, AgriNurture, Belle Corp., MacroAsia, DMCI Holdings, Keepers Holdings, and Philex Mining.