By The Financial District
May 20, 20222 min
The Philippine Stock Exchange (PSE) index today rose to a new milestone level with investors positioning for big plays in the property sector that pushed it to 6,746.33 points, up by 86.28 points or 1.36 percent.
Photo Insert: The Philippine Stock Exchange (PSE) Index, May 20, 2022
All sub-indices were in positive territory with property posting the biggest gain of 3.60 percent, an increase now just seen, after Thursday's huge bet that Bloomberry's Enrique Razon made on a big chunk of property in Ternate, Cavite that Boulevard Holdings own.
That disclosure of a possible gaming and entertainment complex electrified the investing crowd pushing SM Prime and Ayala Land to rise by 4.38 percent and 3.76 percent respectively.
SM Prime closed at P37.80 up by P1.55 emerging as most active with P601 million in trades followed by Ayala Land with trades of P439 million as it closed P1.05 higher to P29.
Boulevard Holdings was top gainer with a 10.53 percent rise as it closed a centavo higher to P0.105 with trades of P77.2 million, while Bloomberry went up by 21 centavos to P6.61 on trades of P108 million.
Only three stocks posted losses among the Top 20 active stocks: BDO Unibank, down by P2.90 to P128.90, ICTSI, down P1.20 to P210.20, and Emperador, down 38 centavos to P19.
Mining and oil rose 2.88 percent, industrials, by 1.54 percent, holding firms by 0.72 percent, financials by 0.62 percent, and services by 0.58 percent.
Value turnover was above average at P7.156 billion with gainers more than double losers, 131 to 62 with 42 shares unchanged. Bank of PI closed up at P98, a gain of P2.10 while Metrobank rose by P1.30 to P52.20 and Security Bank by P1.50 to P94.50.
Among the gainers were Monde, up by 28 centavos to P15.98, Semirara Mining up by a peso to P32.50, Globe up by P8 to P2,506, GT Cap up by P15 to P529, PLDT up by P31 to P1,982, Metro Pacific, up 8 centavos to P3.89, and market bellwether SM Investments, up P6 to P845.